EU Investments in Russia Reach $188 Billion in 2024 Despite Sanctions

In 2024, European Union (EU) countries invested a total of $188 billion into Russia's economy, RIA Novosti reports based on data from national statistical agencies.

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Leading Investors: Cyprus, Germany, and the Netherlands

Companies registered in Cyprus contributed the largest share, investing $101.6 billion into the Russian market. German legal entities ranked second with $19.3 billion, followed by Dutch firms at $15.3 billion.

Other notable EU contributors included France ($15.1 billion), Italy ($13 billion), and Austria ($9 billion). Luxembourg invested $7.5 billion, while Hungary added over $1 billion, rounding out the top ten foreign investors in Russia.

Frozen Russian Central Bank Assets in the EU

According to the European Commission, EU countries have frozen €210 billion of Russian central bank assets. Belgium holds €180 billion, France accounts for around €20 billion, and the remaining funds are split between Germany and Luxembourg.