"Luxembourg does not need a freeport," according to CSV deputy Laurent Mosar. The Freeport at Findel is in turmoil, registering a loss of more than €8 million since it opened in 2014.

On Monday, Finance Minister Yuriko Backes gave an update on the dossier at a meeting of the Parliamentary Budget and Finance Committee.

Freeport is an ultra-secure warehouse and basically functions like an offshore financial centre, housing numerous luxury items. With Luxembourg's reputation in mind, Mosar wonders about the intentions of the current operating company, given that its main shareholder, Yves Bouvier, has sold the other freeports it owned around the world.

In any case, Luxembourg does not need the Freeport, renamed Luxembourg High Security Hub in 2020, Mosar underlined. It would be better for the government and Luxairport to repurpose the structure, Mosar continued.

In the context of the Ukraine war and sanctions on Russia, property and valuables of Russian citizens worth €210 million are said to have been frozen. That says a lot about the Freeport's clientele, Mosar stated.