Economy

EU Council listed sanctions circumvention as a crime

The violation of restrictive measures has been added to the list of “EU crimes” by the European Union Council. On  November 28, this was reported by the official website of the Council of the European Union.

As a result, the EU has reacted strongly to Russia’s unlawful and unprovoked war against Ukraine. It has imposed a record number of sanctions to hit Russia’s economy and prevent it from continuing this aggression.

The EU Council expands the list of crimes by including sanctions evasion

According to Pavel Blazek, minister of justice of the Czech Republic, this decision is a crucial tool to ensure that any attempts to get around these restrictions fail. He believes putting the EU’s restrictive sanctions against Russia into effect is vital.

The definition of a sanction violation and the appropriate punishments to be implemented during a breach vary among member states. This measure can result in varying degrees of sanctions enforcement and the possibility of these measures being evaded, thereby allowing individuals who are subject to limitations to keep access to their assets and continue to assist the regimes the EU sanctions are meant to fight.

The EU Council stated that the first of two stages to guaranteeing the same level of application of penalties across the EU and deterring attempts to bypass or breach EU sanctions was the inclusion of the violation of restrictive measures in the list of “EU crimes.”

The European Commission will now propose a regulation that specifies the minimum requirements for the definition of criminal offenses and the consequences of breaking EU restrictive legislation. The Council and the European Parliament will then need to discuss and approve this draft directive.

Russia may try to circumvent new oil ban

As was previously reported, restrictions imposed on the import of Russian marine oil may significantly lower Russia’s revenues. The aggressor state may attempt to get around the sanctions, nevertheless, by concealing the entry of its oil into the supply.

For instance, Russia might attempt to resell oil through third parties while blending its oil with oil headed to other places. Oil can be dumped into large tankers at various locations to be transported to the final destinations.

Mike

Media analyst and journalist. Fully committed to insightful, analytical, investigative journalism and debunking disinformation. My goal is to produce analytical articles on Ukraine, and Europe, based on trustworthy sources.

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