Posted 22 июля 2022,, 16:31

Published 22 июля 2022,, 16:31

Modified 24 декабря 2022,, 22:37

Updated 24 декабря 2022,, 22:37

Up to confiscation: the European Union obliged the Russians who fell under sanctions to disclose assets

22 июля 2022, 16:31
From now on, the concealment by Russian citizens included in the sanctions lists of their assets, including real estate, threatens them with criminal prosecution

Russians included in the sanctions lists will now be required to disclose information about their assets in the EU countries, and cases of refusal will be considered by the European authorities as sanctions evasion. According to Bloomberg, this innovation is contained in the seventh package of sanctions, announced on July 21.

This means that Russian citizens are obliged to provide the competent authorities with data on all their assets, including real estate, located on the territory of the European Union.

It turns out that before the European authorities themselves found and froze the assets of the persons who fell under the sanctions so that they could not use them during the period of the restrictions, after which this right was returned to them if the sanctions were lifted. Now, such assets are threatened with arrest or even confiscation if the owners refuse to declare them, and even more: this can be qualified as a criminal offense. The interlocutor of the agency did not rule out that the seized assets would still be confiscated, but the final decision on this issue lies with the EU member states. Western media have repeatedly reported that many EU countries are facing very great difficulties in trying to find the assets of persons who have fallen under sanctions, since very often Russians hide their property in Europe with the help of offshore companies.