{"id":1362,"date":"2026-09-15T11:25:00","date_gmt":"2026-09-15T15:25:00","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/?p=1362"},"modified":"2026-09-15T11:25:02","modified_gmt":"2026-09-15T15:25:02","slug":"luxembourg-public-prosecutors-tasked-with-sanctions-circumvention-investigation-at-local-subsidiary-of-russian-bank","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2026\/09\/15\/luxembourg-public-prosecutors-tasked-with-sanctions-circumvention-investigation-at-local-subsidiary-of-russian-bank\/","title":{"rendered":"Luxembourg &#8211; public prosecutors tasked with sanctions circumvention investigation at local subsidiary of Russian bank"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">It <a href=\"https:\/\/www.luxtimes.lu\/luxembourg\/luxembourg-probes-gazprombank-ex-managers\/161457849.html\">is being reported<\/a> that Luxembourg&#8217;s Finance Ministry has tasked the public prosecutor to investigate suspected sanctions circumvention, and possible insider trading, by ex-managers of Gazprombank Luxembourg.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bank and one of the ex-managers has denied wrongdoing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The allegations arise out <a href=\"https:\/\/www.ft.com\/content\/3cb40de7-89f5-4c64-b769-70da374dcd4a?syn-25a6b1a6=1\">high profile reporting<\/a> (behind a paywall, but <a href=\"https:\/\/www.balkanweb.com\/en\/Financial-Times%3A-How-four-Russian-bankers-exploited-EU-sanctions-and-earned-up-to-9-million-euros\/#gsc.tab=0\">also here<\/a>) of a bond-trading scheme whereby cut-price Luxembourg bonds were swapped for full-priced bonds in Russia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is being reported that Luxembourg&#8217;s Finance Ministry has tasked the public prosecutor to investigate suspected sanctions circumvention, and possible insider trading, by ex-managers of Gazprombank Luxembourg. The bank and one of the ex-managers has denied wrongdoing. The allegations arise out high profile reporting (behind a paywall, but also here) of a bond-trading scheme whereby &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2026\/09\/15\/luxembourg-public-prosecutors-tasked-with-sanctions-circumvention-investigation-at-local-subsidiary-of-russian-bank\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Luxembourg &#8211; public prosecutors tasked with sanctions circumvention investigation at local subsidiary of Russian bank&#8221;<\/span><\/a><\/p>\n","protected":false},"author":656,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[104,71],"tags":[20,84,18],"ppma_author":[7],"class_list":["post-1362","post","type-post","status-publish","format-standard","hentry","category-104","category-financial-services","tag-financial-sanctions","tag-luxembourg","tag-russia"],"authors":[{"term_id":7,"user_id":656,"is_guest":0,"slug":"mhandley","display_name":"Mark Handley","avatar_url":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-content\/uploads\/sites\/65\/2023\/09\/handleymark-100x100.jpg","author_category":"","last_name":"Handley","first_name":"Mark","job_title":"","user_url":"https:\/\/www.duanemorris.com\/attorneys\/markhandley.html","description":"<a href=\"https:\/\/www.duanemorris.com\/attorneys\/markhandley.html\">Read Mark's bio.<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/1362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/users\/656"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/comments?post=1362"}],"version-history":[{"count":1,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/1362\/revisions"}],"predecessor-version":[{"id":1363,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/1362\/revisions\/1363"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/media?parent=1362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/categories?post=1362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/tags?post=1362"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/ppma_author?post=1362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}