The 10th package of European sanctions against Russia may force banks to report on Russia’s Central Bank assets, Bloomberg reported on Feb. 16, citing draft proposals.
Such reports could help the EU count frozen assets for a potential reconstruction of Ukraine with these funds, according to Bloomberg.
Banks and entities that fail to report on frozen assets linked to sanctioned Russian companies and individuals could also be fined.
Commission President Ursula von der Leyen said the next sanctions package would help restrict 11 billion euros worth of multiple electronic components used in Russian armed systems — such as drones, missiles, and helicopters via trade bans and technology controls.
The EU aims to adopt the package next week, before the one-year mark of the full-scale Russian invasion on Feb. 24.