European Commission proposes rules on freezing and confiscating assets of oligarchs and other criminals violating restrictive measures

Published in World
Thursday, 26 May 2022 12:16

On 25 May, the European Commission proposed the inclusion of violations of EU restrictive measures in the EU’s list of crimes, in light of Russia’s aggression against Ukraine. This will allow to set a common basic standard on criminal offences and penalties across the EU.

The Commission has also proposed new strengthened rules on asset recovery and confiscation, which would also facilitate the implementation of EU restrictive measures. The proposal would modernise EU asset recovery rules, in particular by expanding the powers of Asset Recovery Offices to quickly trace and identify the assets of individuals and entities subject to EU restrictive measures. These powers would also apply to criminally derived assets, including through the urgent freezing of assets where there is a risk that assets may disappear.

“EU sanctions must be respected and those trying to go around them punished. The violation of EU sanctions is a serious crime and must come with serious consequences, said Věra Jourová, the European Commission’s Vice-President for Values and Transparency. “As a Union we stand up for our values and we must make those who keep Putin’s war machine running pay the price.”     

The proposals have been put forward as part of the ‘Freeze and Seize’ Task Force, set up by the European Commission in March.  So far, Member States have reported frozen assets worth €9.89 billion and blocked €196 billion worth of transactions. On 11 April, Europol, jointly with Member States, Eurojust and Frontex, launched Operation Oscar to support financial and criminal investigations targeting criminal assets owned by individuals and legal entities covered by EU sanctions.

Once the EU Member States agree on the Commission’s initiative to extend the list of EU crimes, the Commission will present a legislative proposal based on the accompanying Communication and Annex.

Find out more

Press release

Read 187 times

Related items

  • EU welcomes international condemnation of Russia for violation of aviation rules

    The European Commission has welcomed the decision by the International Civil Aviation Organization (ICAO) to call on the Russian Federation to immediately cease its infractions of international aviation rules, in order to preserve the safety and security of civil aviation. 

    The ICAO decision refers to the violation of Ukraine’s sovereign airspace in the context of Russia’s war of aggression, and to the deliberate and continued violation of several safety requirements in an attempt by the Russian government to circumvent EU sanctions. These actions include illegally double-registering in Russia aircraft stolen from leasing companies, and permitting Russian airlines to operate these aircraft on international routes without a valid Certificate of Airworthiness, which is the necessary safety certificate.

    Adina Vălean, European Commissioner responsible for Transport, said: “It is of utmost importance for all countries to defend the international aviation rules-based system, for the safety of passengers and crew. Russia continues to disrespect the fundamental rules of international aviation and to instruct its airlines to work against these rules. I welcome the ICAO Council’s clear condemnation, which reflects the gravity of the actions undertaken by Russia.

    ICAO yesterday informed its 193 Member States about Russia’s blatant non-respect of crucial international aviation law and will bring the issue to its next general Assembly, taking place from 27 September to 7 October 2022.

  • Statement of the Ministry of Foreign Affairs On the 14th anniversary of Russia's military aggression against Georgia in August 2008

    Today, the 7th of August 2022, marks the 14th year after the full-fledged military intervention of the Russian Federation against Georgia in 2008. It entailed illegal occupation of the inseparable regions of Georgia - Abkhazia and Tskhinvali region/South Ossetia and their recognition as so-called independent states by Russia.
    After 14 years of the occupation, Russia does not fulfill the EU-mediated 12 August 2008 Ceasefire Agreement, and expands its illegal control in the occupied regions, continues the process of their militarization, actively undertakes steps towards their de-facto annexation. With building barbed wires and other artificial barriers along the occupation line, illegal detentions and kidnappings, gross violations of human rights and ethnic discrimination of Georgians it is undermining the security, human rights and humanitarian situation on the ground and is trying to isolate the people living in the occupied territories from the rest of Georgia and the international community. 
    Violation of fundamental human rights in Georgia’s Abkhazia and Tskhinvali regions, ethnic discrimination and the violation of the right of hundreds of thousands of IDPs and refugees to return to their homes in Abkhazia and Tskhinvali regions of Georgia continues to be a heavy humanitarian burden of Russia’s illegal occupation. The impunity encouraged in the cases of deprivation of lives of Davit Basharuli, Giga Otkhozoria, and Archil Tatunashvili increases the risk of further violence on ethnic grounds.
    Against this background, unrestricted access of international human rights bodies and the establishment of international security mechanisms on the ground, as well as access of the EU Monitoring Mission to Abkhazia and Tskhinvali regions, which is hampered by the occupation force, is becoming even more critical.
    Against this challenging backdrop, the Judgment of the European Court of Human Rights from 21 January 2021 on the 2008 Russia-Georgia war was a pivotal event. It legally confirmed the fact of occupation and effective control over Georgian regions of Abkhazia and Tskhinvali region/South Ossetia by the Russian Federation. Therefore, Russia was held accountable for the blatant violations of human rights and basic freedoms on the ground. This decision, which is the first legal assessment of the 2008 Russia-Georgia War, reveals the futility of Russia’s longstanding effort to avoid legal responsibility for the illegal occupation of Georgian regions and its consequences.
    Georgia unequivocally continues implementation of the policy of peaceful resolution of the Russia-Georgia conflict and is determined to use the diplomatic and legal instruments and continue close cooperation with its international partners to ensure unification and peaceful development of the country, facilitate confidence building between the communities divided by the occupation line and creation of a common European future.
    Georgia is grateful for the unwavering support of the international community to sovereignty and territorial integrity of Georgia and highly appreciates the contribution of international partners in the process of peaceful resolution of the Russia-Georgia conflict. This support is particularly crucial today when with its military aggression against Ukraine the Russian Federation continues ignoring the fundamental principles and norms of international law and undermines the entire European security.
    The Ministry of Foreign Affairs calls on the Russian Federation to cease illegal and provocative steps against Georgia, to respect the sovereignty and territorial integrity of Georgia, to fulfill the obligations under the EU-mediated 12 August 2008 Ceasefire Agreement, to withdraw its forces from the territory of Georgia and to reverse the illegal decision on recognition of the so-called independence of the occupied regions.
    The Ministry of Foreign Affairs appeals to the international community to continue consolidated efforts for achieving peaceful conflict settlement and de-occupation of Georgian territories, the return of IDPs and refugees to their homes, and ensuring peace and security in Georgia and the region as a whole.
    The Ministry of Foreign Affairs extends its condolences to the families and relatives of the soldiers and civilians who died heroically in the 2008 war.

  • Russia’s aggression against Ukraine: EU imposes restrictive measures on Viktor and Oleksandr Yanukovych

    The EU today decided to impose restrictive measures against pro-Russian former Ukrainian President Viktor Yanukovych and his son Oleksandr in response to the ongoing unjustified and unprovoked Russian military aggression against Ukraine.

    The Council of the European Union added Viktor Fedorovych Yanukovych and his son Oleksandr Viktorovych Yanukovych to the list of persons, entities and bodies subject torestrictive measures for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine and the state’s stability and security, as well as – in the case of Oleksandr Viktorovych Yanukovych – for conducting transactions with the separatist groups in the Donbas region of Ukraine.

    The relevant legal acts have been published in the Official Journal of the EU.

    Find out more

    Press release

  • EU releases first tranche of new €1 billion macro-financial assistance for Ukraine

    The European Commission today disbursed the first half (€500 million) of a new €1 billion macro-financial assistance (MFA) operation for Ukraine. The second tranche (another €500 million) will be disbursed tomorrow, 2 August. 

    This additional assistance of €1 billion is part of the extraordinary effort by the EU, alongside the international community, to help Ukraine address its immediate financial needs following the unprovoked and unjustified aggression by Russia. It is the first part of the exceptional MFA package of up to €9 billion announced in the Commission’s communication of 18 May 2022 and endorsed by the European Council of 23-24 June 2022. It complements the support already provided by the EU, including a €1.2 billion emergency MFA loan paid out in the first half of the year. Taken together, the two strands of the programme bring the total MFA support to Ukraine since the beginning of the war to €2.2 billion.

    The funds have been made available to Ukraine in the form of long-term loans on favourable terms. The assistance supports Ukraine’s macroeconomic stability and overall resilience in the context of Russia’s military aggression and the ensuing economic challenges. In a further expression of solidarity, the EU budget will cover the interest costs on this loan. 

    This financial assistance comes in addition to the unprecedented support provided by the EU to date, notably humanitarian, development and defence assistance, the suspension of all import duties on Ukrainian exports for one year or other solidarity initiatives, e.g. to address transport bottlenecks so that exports, in particular of grains, could be ensured.

    Valdis Dombrovskis, the European Commission’s Executive Vice-President for An Economy that Works for People said: “This €1 billion payment is a first part of our €9 billion macro-financial assistance package to help Ukraine meet its emergency financial needs caused by Russia’s brutal war. At the same time, we are working closely with EU Member States and our international partners on the next steps to rebuild Ukraine for the longer term. The EU will provide all political, financial, military and humanitarian support required to assist Ukraine and its people in the face of Russia’s continued illegal aggression – for as long as it takes.”

    Find out more

    Press release

  • Ukraine: EU condemns latest Russian atrocities

    The European Union on Friday condemned “in the strongest possible terms the atrocities committed by the Russian armed forces and their proxies.

    A statement issued by EU High Representative Josep Borrell said Russia’s ongoing illegitimate and unjustified war of aggression against Ukraine and its people brought further horrific atrocities day by day. 

    “Today in Olenivka, in eastern Ukraine, Russia is reported to have killed dozens of Ukrainian prisoners of war, including defenders of Mariupol’s Azovstal steel plant, who surrendered to Russia, were registered by the ICRC in May and were in Russia’s legal protection under international humanitarian law. Evidence in form of appalling video footage has been widely shared on pro-Kremlin social networks today, in which Russian soldiers commit a heinous atrocity against a Ukrainian prisoner of war.” 

    Borrell added: These inhumane, barbaric acts represent severe breaches of the Geneva conventions and their Additional Protocol and amount to war crimes. 

    The perpetrators of war crimes and other serious violations, as well as the responsible government officials and military representatives, will be held accountable, the statement said. 

    Find out more

    Press release

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

Session of Economic Council was held under the leadership of Prime Minister

Session of Economic Council was held under the leadership of Prime Minister

Plan of acceleration of infrastructural projects, financial support scheme for startups and activiti...

MOST READ

« August 2022 »
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media