The European Comission finalize a proposal for redirect to Ukraine the funds obtained from the confiscation of property from Russian citizens or entities in the European Union who have tried to circumvent the freezing of assets imposed on them by the community bloc for giving support to Vladimir Putin’s regime in its invasion. “We are working on a European instrument that would make confiscation possible in the whole of the EU when there was a will to evade sanctions, since evading sanctions would itself be a crime,” Justice Commissioner Didier Reynders explained in a statement. press conference in Brussels.
The goal, said the Commissioner, is to have a common european fund with which to finance the reconstruction of the invaded country and support the Ukrainian victims of the war.
Reynders explained that there are already several Member States that have a legal framework that allows them to confiscate the assets of those sanctioned by the EU that try to avoid punishment, for example by appointing a figurehead or with more complex systems, since the fact of trying to avoid sanctions represents a serious crime. The work of community services is now focused on the confiscation of the assets of those who evade sanctions is possible in all the countries of the European UnionReynders said, and then a “third objective” would be explored for member states to agree to “put it in a common fund” with which to “finance support for victims.”
The EU has on its list of those sanctioned for attacking the integrity and sovereignty of Ukraine a total of 1,093 people and 80 entitiesso their assets in the European Union are frozen and they are also prohibited from entering community territory.