EU Commission to make violation of anti-Russian sanctions an EU crime

On May 25, the European Commission proposed to add the violation of EU restrictive measures to a list of crimes and presented updated EU asset recovery rules, says EU Commission press release.

"While the Russian aggression on Ukraine is ongoing, it is paramount that EU restrictive measures are fully implemented, and the violation of those measures must not be allowed to pay off. Today's proposals aim to ensure that the assets of individuals and entities that violate the restrictive measures can be effectively confiscated in the future," the statement said.

EU Commission proposes to add the sanctions violation to the list of EU crimes: this will allow setting a common basic standard on criminal offenses and penalties across the EU.

The Commission is also putting forward a proposal for a Directive on asset recovery and confiscation, which aims to ensure that criminals do not receive illicit gains and limit their capacity to commit further crimes. The new rules will also apply to the confiscation of assets gained from sanctions evasion.

Reuters reports that violation of EU anti-Russian sanctions is now a criminal offense in 12 of the 27 countries of the European Union. The EU has already frozen €10 billion in physical assets and more than €20 billion in the bank accounts of Russian oligarchs who are helping the Kremlin fight against Ukraine.