Luxembourg freezes €5.5 billion of Russian EU assets
"If Russia does not give in, then further sanctions are inevitable," Asselborn said. He said it was important that the EU did not recklessly put its unity at risk. There can be "no neutrality" with regard to the Russian war against Ukraine. Those who do not condemn Russia accept the law of the strongest: "History will decide who was on the right side," Asselborn said.
- Economy
- DPA
- Published Date: 10:42 | 08 November 2022
- Modified Date: 10:51 | 08 November 2022
As much as €5.5 billion ($5.54 billion) of the total €17 billion of Russian assets frozen in the wake of EU sanctions as a result of the war in Ukraine are in Luxembourg, Foreign Minister Jean Asselborn told parliament on Tuesday.
"If Russia does not give in, then further sanctions are inevitable," Asselborn said. He said it was important that the EU did not recklessly put its unity at risk.
There can be "no neutrality" with regard to the Russian war against Ukraine. Those who do not condemn Russia accept the law of the strongest: "History will decide who was on the right side," Asselborn said.
Luxembourg had so far delivered weapons and material to Ukraine worth more than €72 million, which corresponds to 16% of the Grand Duchy's total defence budget.
Asselborn welcomed in principle the plans to enlarge the EU to include Ukraine and the states of the Western Balkans. However, he said, the question of the EU's absorption capacity must also be discussed.
The EU has now adopted eight sanctions packages since the Russian invasion began eight months ago.