Sanctions against Russia are also having effects in Luxembourg: around 4.3 billion euros linked to Russian individuals and companies have been frozen.

The exact amount adds up to 4.267 billion euros and includes money in bank accounts as well as properties.

90 private individuals and around 1,100 legal entities on the company registers were identified as falling under the list of EU sanctions.

These numbers were confirmed by Minister for Finance Yuriko Backes to the monitoring committee, which was meeting for an update on the current sanctions situation.