EU wants to allow confiscation of seized assets of the Russian Federation in case of circumvention of sanctions

The money will be transferred to a fund to support Ukrainians.

The EU will approve a new directive against the Russian Federation in October / photo REUTERS
The EU will approve a new directive against the Russian Federation in October / photo REUTERS

The European Union is preparing a directive on the confiscation of arrested Russian assets by court order. EU Commissioner for Justice Didier Reynders, upon arrival at the Council of Ministers in Prague, said that the money would go to the EU fund to support the population of Ukraine.

It is reported by  RTBF .play video

“We are moving very fast. The directive will be approved in October,” Reynders added.

According to the European Commissioner, after the adoption of this directive, an attempt to circumvent sanctions will be included in the list of criminal offenses in the EU.

It is noted that out of €13.8 billion of assets of Russian oligarchs and other organizations frozen in the EU countries, more than €12 billion are frozen in just five states.

In late June, the Western Allies Task Force, which is responsible for tracking Russian elite assets (Repo), reported that $30 billion in assets belonging to Russian oligarchs or elites under sanctions had been frozen. Also frozen about $ 300 billion of the central bank.

This target group includes the US, Australia, France, Canada, Germany, Japan, Italy, the UK and the European Commission.

Earlier, Oleg Ustenko, economic adviser to the President of Ukraine, said that serious sanctions that would really kill the Russian economy are still ahead . The main sanction will “hit” the most sore point of the aggressor country – oil

(c)UNIAN 2022

4 comments

  1. Yes all seized ruzzian assets should be put in an international fund as reparations immediately. Orcs must pay a very heavy price for all of their acts of genocide and support thereof. “Were-worms” must share the same fate for their assistance.

    Liked by 4 people

  2. “We are moving very fast. The directive will be approved in October,” Reynders added.

    I guess 3 months is fast for the snails in the EU.

    Liked by 3 people

  3. “EU wants to allow confiscation of seized assets of the Russian Federation in case of circumvention of sanctions
    The money will be transferred to a fund to support Ukrainians.”

    Get on with it! It’s a very righteous measure, for sure!

    Liked by 2 people

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