On May 19, new rules (directive) harmonizing criminal offenses and punishments for violation of sanctions entered into force in the European Union. This is reported on the European Commission portal.
The new rules will ensure the possibility of criminal investigation and prosecution of such violations in all EU member states.
The directive contains a list of criminal offenses related to violation and circumvention of EU sanctions, such as, for example: failure to freeze assets, violation of travel bans or arms embargoes, provision of prohibited or restricted economic and financial services, transfer of funds that should be frozen, etc.
The new rules also set common baseline standards for penalties for both natural and legal persons in all member states. The rules also close legal loopholes to circumvent EU sanctions.
They will also include stronger rules for freezing and confiscating income and assets subject to EU sanctions.
“As Putin continues his illegal aggression against Ukraine , it is imperative that EU sanctions are fully implemented and that violations of these measures are punished. In addition, the new rules will make it easier for member states to confiscate certain assets of people and companies that support the war legislation and make them work in practice”, – commented Vira Yurova, vice-president of the European Commission.
Member states have until May 20, 2025 to implement the rules into their national legislation.