Bloomberg: EC intends to legalize the confiscation of frozen assets
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The European Commission is conducting legislative work on obtaining the right to seize sanctioned assets, learned Bloomberg. The legalization of confiscation may open up an opportunity to direct funds for the restoration of Ukraine.
Now the EC can only freeze sanctioned assets. As the agency notes, this makes their management costly, and use or alienation difficult.
According to Bloomberg, the EC may expand the powers of EU countries to seize assets. Violation of sanctions can be included in the list of crimes, which now includes money laundering and corruption.
The European Union imposed eight packages of sanctions against Russia after the start of the military operation in Ukraine, the last one was approved on October 6. It is known that the amount of frozen assets of Russian entrepreneurs in the EU is €14.6 billion. In addition, Brussels froze assets of the Central Bank of the Russian Federation for €23 billion.
Read more about the eighth package of sanctions in the publication “Kommersant” “With the possibility of further indulgences”.
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