Commodities
Bypassing sanctions is included in the list of criminal offenses in the EU
Bypassing European sanctions is included in the list of criminal offenses in the EUThe EU Council decided on Monday to include violations of EU sanctions in the list of criminal “offenses in the EU”.
“The EU has adopted an unprecedented European sanctions list targeting Russia’s economy (…). Their implementation requires joint efforts to achieve results, and today’s decision is an important tool to ensure that any attempts to circumvent these measures will be stopped,” said Czech Justice Minister Pavel Blazek, who holds the EU Council Presidency, as quoted in a communiqué published in Brussels.
Member states currently have different definitions of what is a violation of restrictive measures and what penalties should be imposed in the event of a violation, the document noted. “This could lead to varying degrees of sanctions and the risk of circumvention of these measures, potentially allowing sanctioned individuals to continue accessing their assets and supporting regimes against which EU measures are in effect,” the EU Council communiqué said.
It explains that listing violations of restrictive measures as “crimes in the EU” is the first of two steps aimed at making sure that sanctions are applied equally across the EU and deterring attempts to circumvent or violate EU measures.
This draft directive, Brussels reminds us, must then be discussed and adopted by the European Parliament and the EU Council.
Earlier we reported that the U.S. had decided to extract crude oil in Venezuela.
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