Violation of these sanctions must not be allowed to pay off for Russian oligarchs, the EC said in a statement

The European Commission (EC) on Wednesday proposed new rules that would make it harder for Russian oligarchs to evade sanctions and pave the way for the confiscation of their assets to help rebuild Ukraine after the war.

“As long as Russia’s aggression against Ukraine continues, it is vital that the EU’s restrictive measures are fully implemented and that violations of these measures must not be allowed to pay off,” the EC said in a statement.

“The aim of today’s proposals is to ensure that the seizure of assets by natural and legal persons in breach of restrictive measures can be effective in the future,” the EC statement said.

The implementation of economic sanctions in the 27 Member States of the bloc varies greatly, sometimes allowing sanctioned individuals and companies to evade them.

“Violation of EU sanctions is a serious crime and must have serious consequences. To achieve this, we need EU-wide rules,” said Vera Jurova, EC Vice-President for Values ​​and Transparency.

The EC pointed out that sanctions are linked to 40 different legal regimes, which are very different.

“Inconsistent enforcement of restrictive measures undermines the Union’s ability to speak with one voice,” the EC said in a statement.

The EC has proposed that sanctions for breaches be included in the EU’s criminal record, paving the way for a common standard of enforcement and punishment in all Member States.

Once agreed, the EU will further define what constitutes a breach of sanctions, thus making it easier to prosecute offenders across Europe.

The EU has imposed five rounds of sanctions on Russia’s invasion of Ukraine, and negotiations on a sixth round of a ban on Russian oil imports are nearing completion.

The EC also hopes to secure the agreement of Member States to the proposal to confiscate sanctioned property, not just to freeze it, as is currently the case.

Several EU member states want the proceeds to be used to rebuild Ukraine, while others, including Germany, have expressed concerns that such measures could violate international and national laws restricting the authorities’ ability to confiscate private property.

EU leaders are set to discuss EC proposals at a summit in Brussels on Monday.

According to the draft conclusions of the summit, which became available to the AFP news agency, the leaders will support the exploration of other options compatible with international law, including the possibility of using the frozen Russian funds for the reconstruction of Ukraine.

–