- Government tax settings in the latest budget.
- Central government sets long-term capital gains tax rates and reviews tax policies during the annual budget exercise.
Luxembourg Court Overturns Finance Ministry Denial on Frozen Russian Securities
What happened
A Luxembourg court ruled that the country's authorities wrongly denied a Russian company's request to recover securities held through Russia's National Settlement Depository and those of its clients. The court overturned the Finance ministry's refusal to release the frozen Russian securities. The ruling found that the term 'payment' under the relevant exemption covers the return of securities, not just cash transfers.
From russiaherald.com
Why it matters
The decision sets a legal precedent challenging the interpretation of EU sanctions. It suggests that the term 'payment' in pre-sanctions contracts can include the return of securities, potentially impacting how frozen assets are handled across Europe.
The central government reviews tax policies and sets long-term capital gains tax rates during the annual budget exercise.
From russiaherald.com
Who's involved
- finance ministryThe Finance ministry initially denied the request for the release of frozen securities.
- EuroclearIs involved in legal proceedings and challenges against the Bank of Russia regarding frozen assets.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- European CommissionSpeculative
The European Commission could be required to review its regulatory stance following the challenge to the interpretation of EU sanctions.
Keep exploring
The entities involved
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finance ministry
type of ministry responsible for government finances and economic policy
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Euroclear
business