The European Commission will present in two weeks a legal proposal to make the evasion of sanctions an EU crime — a step that will help member countries confiscate assets frozen as part of the sanctions campaign against Russia, POLITICO reported on Wednesday, citing two officials with knowledge of the proposal.
European Commission to make sanctions evasion an EU crime
STEPANAKERT, MAY 11, ARTSAKHPRESS: The Commission will make this proposal under a treaty provision that allows countries, in coordination with the European Parliament, to "establish minimum rules concerning the definition of criminal offences and sanctions in the areas of particularly serious crime with a cross-border dimension." That step, in turn, would provide countries with the legal basis to seize frozen assets, the officials said.
As of April, EU countries have seized around €30 billion in assets, including yachts, villas and art belonging to sanctioned individuals and entities. This figure has likely increased since.
