In two weeks the European Commission will present a legal initiative to treat evasion of sanctions against Russia as a crime to facilitate the confiscation of Russia-related assets. According to Interfax Ukraine, the respective report of Politico references two sources.
This measure is expected to give countries legal grounds to arrest the frozen assets. The media notes that the confiscation of assets is still under discussion, and the main problem is that the procedure of assets’ expropriation is governed by national law and not general European rules. So the EU countries will decide on their actions on the assets or the respective income individually. Whether the funds could be transferred to aid Ukraine is also still under discussion.
Politico indicates that as of April the EU countries have confiscated about EUR 30 bln worth of assets, including yachts, villas and art objects belonging to sanctioned individuals and companies. The outlet believes that the amount could be higher at the moment.
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