European Commission Vice-President Margaritis Schinas announced that the Commission plans to streamline the process of confiscation of “illegally acquired” property to increase the effectiveness of sanctions against Russia.
In an interview with “Welt am Sonntag” today, Schinas said: “The European Commission will soon submit a proposal to update the European Union’s legislative rule on property confiscation, with the aim of expanding the power of national authorities. Discovery, freezing illegally. property seized, confiscation and administration ”.
He said that this revenue in the European Union was “at least 139 billion euros, of which only 1% was confiscated”.
Explaining that the new law will allow the implementation of sanctions against Russian citizens more effectively, the Minister said, “We see a concrete example of how important it is to freeze and confiscate the assets under on European Union sanctions against Russians and Belarusians. The war in Ukraine. ”
Source: TASS
Source: Arabic RT
