Violation and circumvention of sanctions have been criminalized in EU
Trade in sanctioned goods will be considered a criminal offense in all EU countries. The maximum penalty is five years in prison.
The relevant directive was approved by the Council of the EU, Censor.NET reports with reference to the organization's website.
Now all the countries of the European Union must recognize the trade in sanctioned goods and assistance in circumventing the ban on entering their territory to sanctioned persons as a criminal offense. They will also be punished for inciting such an offense or assisting in its commission.
When the directive enters into force, the same penalty will be established for the violation - imprisonment for up to 5 years, if it is about actions related to assets in the amount of more than 100 thousand euros. Various measures are provided for companies, including monetary and non-monetary ones (for example, cancellation of permits, deprivation of the right to benefits, liquidation by judicial procedure, fines, etc.).
What will be considered a violation of sanctions?
- provision of funds or economic resources at the disposal or for the benefit of a sanctioned person or organization;
- inability to freeze money or economic resources of a sanctioned person or organization;
- granting a sanctioned person permission to enter or pass through transit;
- trade in goods or services, import, export, sale, purchase, transfer, transit or transportation of which is prohibited or restricted by sanctions, as well as the provision of brokerage or other services related to such goods;
- provision of financial services or performance of financial activities that are prohibited or restricted by sanctions;
- other ways of circumventing the sanctions regime (for example, by hiding beneficiaries).
The directive will enter into force 20 days after publication in the Official Journal of the European Union. Member states will have 12 months to implement its provisions into national law.
