Sanctions coordinator Stef Blok released his final report on compliance with Russian sanctions on Friday. He concluded that fewer mistakes were made in the implementation of punitive measures than previously feared. It does, however, make eighteen recommendations for improving policy. The government has already announced that it will adopt these recommendations.
In his final report, Blok writes that “based on the available information, there is no indication that anything was missed, with funds frozen.” The House of Representatives was appointed because it was dissatisfied with the enforcement of the sanctions by the cabinet.
The report also concludes, among other things, that just over €425 million was blocked in financial transactions as part of sanctions against Russia. He also states that the real estate of Russians in our country is “insignificant”.
According to him, there is not much money in the Netherlands. “We have frozen what can be frozen.” That frozen amount has not grown much more, he said, exceeding EUR 600 million.
Russians are predominantly present in the Netherlands. This includes a head office, possibly with a bank account and an office. “It is very doubtful if there is actual activity,” Blok said.
Assets are held by companies that operate in other countries where the holding company operates. On paper, the headquarters may have a lot of money, but the money from sales, real estate and other things is in other countries. Nothing can be frozen. The money is hidden by holding companies in tax havens like Jersey.
Need for improvement of supervision and enforcement
According to Blok, improvements are needed in the area of enforcement and enforcement of sanctions. He is asking for a permanent sanctions coordinator at the State Department.
In addition, the obligation on civil-law notaries, the legal profession and accountancy must be tightened up. Data exchange also needs to be simplified.
Blok will now remain on as enforcement coordinator. It goes to the European Court of Auditors.
Source: NU
Jason Jack is an experienced technology journalist and author at The Nation View. With a background in computer science and engineering, he has a deep understanding of the latest technology trends and developments. He writes about a wide range of technology topics, including artificial intelligence, machine learning, software development, and cybersecurity.
