Schinas announced the plans of the European Commission to simplify the confiscation of illegally acquired property
European Commission (EC) wants to simplify the process of confiscation of property allegedly obtained illegally. This was announced by the Vice-President of the European Commission Margaritis Schinas in published on Saturday, May 14, an interview with the newspaper Welt.
Such a measure will be aimed, in particular, at improving the effectiveness of the implementation of sanctions against Russian citizens who have fallen under restrictions.
It is clarified that their proposals for the modernization of the legislative framework European Union the commission will present shortly. Schinas said that such proceeds obtained illegally in the EU amount to “a minimum of 139 billion euros, of which only one percent is withdrawn.”
On 11 May it was reported that the EC plans submit a legal proposal that would make it a crime to evade EU anti-Russian sanctions. The move is supposed to help EU member states confiscate assets frozen as part of the sanctions campaign against Russia.