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EU wants to add violation of sanctions to error list

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The European Union (EU) has proposed new rules that will make the violation of union against Russia a crime throughout the and will allow the seizure of the assets of individuals or organizations that violate the restrictive measures of member states.

The European Commission has announced a bill that will introduce new rules on the freezing and confiscation of the assets of oligarchs and wrongdoers who violate the restrictive measures applied to Russia. According to the proposal, violating the mis sanction will be added to the EUdemeanor list. This will allow for a common EU-wide standard for criminal errors and penalties to be set.

Thus, it will be easier to investigate, prosecute and punish violations of restrictive measures in all EU member states. In addition, differences in rules and legal gaps regarding the violation of restrictive measures in the midst of member states will be eliminated. EU rules on the take back and confiscation of assets will also be strengthened.

This will contribute to the enforcement of EU sanctions and the organized crime effort. Thus, in the future, the assets of persons or organizations violating the restrictive measures will be actively seized.

For the proposal to come into force, the unanimous vote of the EU member states and the approval of the European Parliament (EP) are required.

“Our lawyers are working hard to find ways to use the oligarchs’ frozen assets to rebuild Ukraine,” European Council Leader Ursula von der Leyen said last week.

It is predicted that the assets of Russian oligarchs worth 30 billion dollars have been frozen by EU member states so far.

EU High Representative for Foreign Relations and Security Policy Josep Borrell also stated that EU countries should consider the seizure of Russia’s frozen foreign exchange reserves and their use in the rebuilding of Ukraine.

Due to the dollars imposed on Russia, the Central Bank of Russia’s gold and foreign exchange reserves of approximately 300 billion abroad are frozen.

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