The European Commission aims to issue a directive within days to enable the confiscation of assets belonging to those trying to evade sanctions against Russia, the Irish Times reported, citing EU Justice Commissioner Didier Reynders.
“If it’s possible to confiscate, it will also be possible to give the money back to the Ukrainian people. And that’s what we are trying to do,” Reynders said.
The European Commission may complete the legislative process to implement the directive within several months, according to Reynders.
The measure will put the evasion of sanctions on the list of “EU crimes.”
The EU has frozen assets belonging to 1,239 individuals and 116 companies due to their connection to Russia’s invasion of Ukraine. Together they are worth 17.73 billion euros, the Irish Times reported.