By Maya Lester KC & Michael O’Kane

Luxembourg issues General authorisation allowing certain Russian assets to be unblocked

The Luxembourg Finance Ministry  has issued a general authorisation, allowing the release of funds of the Russian National Settlement Depository (NSD), frozen under EU sanction on 3 June 2022, (Council Regulation (EU) No 269/2014 of 17 March 2014), on condition that the funds are “necessary for the termination, by 7 January 2023, of operations, contracts or other agreements concluded with, or otherwise …

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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