The European Commission says it is best to abide by sanctions against Russia in the wake of the Ukraine conflict.
The European Commission has said that violating EU sanctions must be a crime, and that it was especially important to ensure that sanctions against Russia were strictly adhered to during the Ukraine conflict.
“The European Commission is proposing to add violations of EU sanctions to the list of crimes committed by the European Union.” The block’s executive council said in a press release on Wednesday.
Such a move at the EU level should make it easier for 27 member states to investigate, prosecute and punish sanctions violations, it noted.
The Commission has identified some potential criminal offenses, such as activities that seek to avoid sanctions, including concealing assets, failing to raise funds subject to such restrictions, and engaging in illicit trade, such as importing or exporting goods under trade. Prohibition
Brussels has also introduced new, stricter rules on asset recovery and confiscation, which must contribute to compliance with EU arrangements. “Ensuring that offenders do not pay the price by depriving them of the profits they have earned and limiting their ability to commit further crimes.”
According to the initiative, once such behavior is criminalized, violating the ban can also lead to confiscation of assets.
“EU sanctions must be respected and those who try to go around them must be punished … As a union we must stand up for our values and we must pay the price for those who carry on Putin’s war.” Vera Zorova, commissioner of values and transparency.
The commission added that it would present a legal proposal once all member states had agreed on its current initiative.
Russia has become one of the most banned countries in the world after the EU, the United States and other countries imposed tough sanctions on Ukraine in response to its military offensive.
Among other measures, the Russian central bank’s foreign assets were frozen and a wide array of foreign businesses stopped transactions with the country.
The EU is currently discussing a sixth package of sanctions, which could include a withdrawal from Russian oil. However, it has met with opposition from some members, particularly Hungary, who have compared it to the proposed sanctions. “An atomic bomb.”