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Translated by: MOS Health Team – baoliaofen
The EU’s European Commission proposed on May 25th, to make it a crime to violate EU sanctions against Russia, which would make it easier for the bloc to confiscate the assets of people and companies that evade them.
The proposal aims to ensure that the assets of individuals and entities that violate restrictive measures can be effectively confiscated in the future,” the European Commission said in a statement.
Confiscation of assets means that they can be taken, sold and used by the EU, rather than freezing them. The latter simply denies the target access to his or her assets.
It is currently an offence in 12 EU countries to violate the Russian sanctions. In 13 EU countries it is either a criminal offence or an administrative offence, while two EU member states consider it only an administrative offence.
Wednesday’s proposal would make evading Russian sanctions a serious criminal offence in all 27 EU countries. It would mean the EU could seize the assets of anyone who helps circumvent sanctions, including lawyers and bankers.
In addition, according to reports, the new EU law must be approved unanimously by all EU Governments and receive a majority in the European Parliament, and will also punish those who help violate the sanctions, such as lawyers or bankers who work with those who circumvent the restrictions.
A sale of the assets of individuals already under sanctions, including Russian billionaires, is also being considered by the EU in order to put the funds towards Ukraine.
President Biden is seeking similar powers, but seizure of private property by the federal government without due process is a clear violation of the Fourth Amendment.
The Russia-Ukraine war has changed the world landscape forever and European Governments have recently been keen to find the yachts of Russian tycoons, the sanctions against Russia have seen the assets of Russian oligarchs confiscated. It is not enough that they are now confiscated and frozen, but also to be used.
Imagine the sanctions that the Chinese Communist Party (CCP), the gold owner behind Putin’s invasion of Ukraine, are going to face even harder than those against Russia, as we all know that the CCP has more overseas assets than Russia controls.
Edited and Proofread by: Linda Progress
Posted by: Beyond X
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