The European Parliament approved a law on March 12 to criminalize the circumvention of European Union sanctions. The initiative was supported by 543 members, with 45 voting against and 27 abstaining, as reported on the EP website.
The document was adopted to "harmonize" the implementation of EU sanctions across all member states. The law now needs to be approved by the European Council. EU countries will then have a year to implement it in practice.
The new law establishes clear definitions of violations, including failure to freeze assets, breaches of travel bans or arms embargoes, transferring funds to sanctioned individuals, or conducting business with state enterprises of sanctioned countries. Providing financial services or legal advice in violation of sanctions will also become punishable offenses.
Individuals who violate or bypass sanctions will face criminal liability of up to five years imprisonment in all EU countries, while companies will be fined.
"Criminals benefiting from the Russian invasion are thriving in Europe... We need this law because different national approaches have created weaknesses and loopholes," noted MEP Sophie in 't Veld.
It is expected that the law will also allow for the confiscation of frozen private Russian assets by court order.
In February, the EU approved the 13th package of sanctions against Russia, marking the second anniversary of the Russian invasion of Ukraine.
