EU Asks Members to Implement 'Appropriate Measures' for Seizing Sanctions Violation Proceeds
The EU adopted a European Council decision and regulation asking member states to implement "appropriate measures" to confiscate proceeds of sanctions infringements "in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine." The decisions tack on an amendment to Article 2 of the EU's Russia sanctions regime that freezes all funds belonging to or held by any listed individual or entities.
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The new measures say that “Article 2 shall not apply to funds or economic resources that are strictly necessary for the provision of electronic communication services by Union telecommunication operators, for the provision of associated facilities and services necessary for the operation, maintenance and security of such electronic communication services, in Russia, in Ukraine, in the Union, between Russia and the Union, and between Ukraine and the Union, and for data centre services in the Union.” The new council decision also amends Article 15 to require member states to put down penalty rules for sanctions violations and to ensure that they are implemented to provide for appropriate confiscation measures of the proceeds of these infringements.