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THE LUXEMBOURG COURT ABOLISHED THE BAN ON THE RETURN OF SECURITIES TO THE RUSSIANS, WRITES AND DOMINION. WE ARE TALKING ABOUT ASSETS THAT HAVE BEEN FROZEN AS PART OF THE SANCTIONS OF THE EU AGAINST THE NATIONAL SETTLEMENTS (NSD). THE LAWSUIT WAS FILED BY A COMPANY THAT THE COURT DID NOT REVEAL ITS NAME. SHE APPEALED TO THE LUXEMBOURG MINISTRY OF FINANCE ON SEPTEMBER 26, 2023. ACCORDING TO THE DEPARTMENT’S POSITION, THE ABOLITION OF PROPERTY FREEZING OF PEOPLE WHO ARE NOT SUBJECT TO SANCTIONS CAN ONLY APPLY FOR CASH, BUT NOT ON SECURITIES. THE COURT DID NOT AGREE TO THIS INTERPRETATION AND DECIDED TO CANCEL THE OFFICE DECISION.

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THE LUXEMBOURG COURT ABOLISHED THE BAN ON THE RETURN OF SECURITIES TO THE RUSSIANS, WRITES AND DOMINION. WE ARE TALKING ABOUT ASSETS THAT HAVE BEEN FROZEN AS PART OF THE SANCTIONS OF THE EU AGAINST THE NATIONAL SETTLEMENTS (NSD). THE LAWSUIT WAS FILED BY A COMPANY THAT THE COURT DID NOT REVEAL ITS NAME. SHE APPEALED TO THE LUXEMBOURG MINISTRY OF FINANCE ON SEPTEMBER 26, 2023. ACCORDING TO THE DEPARTMENT’S POSITION, THE ABOLITION OF PROPERTY FREEZING OF PEOPLE WHO ARE NOT SUBJECT TO SANCTIONS CAN ONLY APPLY FOR CASH, BUT NOT ON SECURITIES. THE COURT DID NOT AGREE TO THIS INTERPRETATION AND DECIDED TO CANCEL THE OFFICE DECISION.

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