The Netherlands has so far frozen 400 million Russians on the sanctions list

Dutch banks, trust offices and investment institutions have so far frozen more than 400 million euros worth of Russian companies and individuals on the sanctions list. That’s double what was on the counter at the end of last week. Minister Kaag of Finance previously talked about 6 million.

Some progress has been made in the past week, as DNB consults with financial institutions about the enforcement of the sanction rules, Kaag now reports to the House of Representatives.

He emphasizes that everyone in the Netherlands must adhere to the sanction rules. This applies to financial institutions and other service providers, as well as companies whose owners have been sanctioned.

economic crime

“Anyone who has or has access to the assets, assets or funds of sanctioned parties should freeze them.” Anyone who does not comply with this can then be prosecuted by the Public Prosecution Service, as it concerns an economic offence.

Companies that have to freeze their assets do not have a notification obligation, these amounts are not counted; banks and financial institutions. Therefore, the actual frozen amount is likely to be higher. The government will monitor compliance with sanctions more closely.

It is unclear how much money can be frozen in the Netherlands. Probably several billion.

Source: NOS

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