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EU proposes to make seizing assets easier, including of sanctioned oligarchs -document

The European Commission wants to make it easier to confiscate assets linked to serious illegal activities and suspected criminals, including those evading European Union sanctions against the Kremlin, according to a draft document seen by Reuters. The legislative proposal, due to be published on Wednesday and still subject to changes, is aimed at addressing a longstanding weakness in the EU where many states lack sufficiently robust legal frameworks to seize criminal assets, making it easier for criminals to hide their resources and benefit from illegal activities. The war in Ukraine further exposed this weakness, as many states are struggling to freeze assets of people sanctioned by the EU for their ties to the Kremlin – and many more lack legal powers to confiscate frozen assets.

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