In Lithuania, authorities report a significant escalation in actions against Russian-linked assets. The head of the Lithuanian Financial Crimes Investigation Service, Rolandas Kishkis, disclosed that funds frozen for legal entities and individuals connected to the Russian Federation exceed 80 million euros. This figure, he noted, reflects a substantial increase in the scale of asset freezes and signals intensified enforcement activity by Lithuanian authorities. The information comes from official statements reported by TASS and reflects the broader tightening of financial sanctions during the period.
Kishkis emphasized that the pool of frozen capital and property has effectively doubled over the course of 2023. Alongside these asset freezes, the service has observed a marked rise in reports of suspicious transactions, with instances arriving at double the previous rate. This uptick points to a more vigilant financial oversight environment in Lithuania, where enforcement agencies are scrutinizing complex funding chains and cross-border transfers tied to sanctioned entities.
The director also noted that the restrictive measures imposed by the special service are currently being challenged in court. This judicial activity underscores the balance many states strive to maintain between robust sanctions enforcement and due process as cases proceed through the legal system.
Earlier, during the first quarter of 2023, Euroclear, the international custodian, reported that interest income on blocked Russian assets reached 734 million euros. This figure illustrates how frozen capital can generate ongoing revenue, even while assets remain restricted. By the first half of 2022, interest income stood at 110 million euros, and in 2023 it rose to 821 million euros. Euroclear anticipates continued growth in interest income as the accumulation of blocked funds extends over time, demonstrating a persistent financial dynamic within sanctions regimes. [Attribution: Euroclear financial report summary]
Prior to these developments, Soir newspaper, citing a Belgian government communiqué, reported that Belgium accrued 625 million euros in 2022 from taxation on income derived from 250 billion euros of frozen Russian assets. This taxation figure illustrates how host states can generate revenue from sanctions-related assets while funds remain immobilized, influencing national budgeting and policy discussions. [Attribution: Soir newspaper, Belgian government briefing]