The Central Bank of the Netherlands (De Nederlandsche Bank) has €80 billion worth of Russian assets, yet has only frozen about €200 million of these assets under the new sanctions — beetje raar toch? (bit weird right?) 🤔
What’s really worth mentioning is that €45 billion of these Russian assets belong to organisations and people on the European blacklist, says recent research done by Het Financieele Dagblad (FD).
What’s happening?
Let’s get down to business. 🤓 More than half of these Russian assets can be traced back to 14 alleged oligarchs and organisations such as the banks Sogaz, VTB Bank, Bank Rossiya and Gazprombank, reports NU.nl.
In comparison to other countries, the Netherlands’ action when it comes to freezing Russian assets is relatively low.
According to NBC News, Germany has already frozen about €50 billion of their Russian assets and France around €64 billion. It seems like the Dutch didn’t get the memo. 🤭
Why is this happening?
The Dutch government hasn’t necessarily fallen victim to Russian oligarchs but has been actively taking in these assets since before Putin’s attack on Ukraine.
READ MORE | The Netherlands is a top-three tax haven for multinationals and the super-rich
Sanctions lawyer, Yvo Amar, spoke with the Het Financieele Dagblad (FD) and explained that he expected a much stronger reaction from the Dutch banks against Russia — the Dutch really can’t take a hint, eh? 😳
How do you feel about the Dutch reaction toward these sanctions against Russia? Tell us in the comments.
