The EU wants to force banks to disclose information about frozen Russian assets – mass media

As part of the tenth package of sanctions, the European Commission proposes to strengthen the obligations regarding reporting by banks on the frozen assets of the Russian Central Bank, as well as Russian companies and individuals.

It is reported Bloomberg with reference to the draft proposal of the European Commission.

Getting an idea of ​​the scale of the frozen assets of the Central Bank of the Russian Federation and other Russian public entities is considered as the first step to studying the possibilities of using these funds for the restoration of Ukraine.

The EC also proposed to strengthen reporting obligations on frozen assets linked to sanctioned Russian companies and individuals, and proposed fines of up to €50,000 for individuals and 10% of annual turnover for legal entities for failure to report necessary information.

The bloc plans to approve its tenth package of sanctions next week, ahead of the anniversary of the Russian invasion.

The latest package of measures would also impose broad trade restrictions on goods used by the Russian military, including technology, components, heavy vehicles, electronics and rare earth metals.

The EU is also proposing to ban the transit of goods through Russia to reduce the risk of sanctions violations, and to introduce restrictions on the import of Russian rubber and asphalt into the EU.

In addition, sanctions may apply to dozens of individuals and legal entities. First of all, these are Alfa Bank, Rosbank and Tinkoff Bank, as well as the National Welfare Fund of the Russian Federation, propaganda media groups, a Russian reinsurer of tankers used to export Russian oil, and a shipping company registered in Britain that provides vessels for the transportation of stolen goods Ukrainian grain by Russia.

The proposed measures will be discussed by EU member states this week and could change before the package is approved.

Other proposals include the continued suspension of Russian media broadcasting licenses. The EU also wants to limit the ability of Russian citizens to hold positions in the management bodies of critical infrastructure operators.

In addition, the sanctions package, if adopted, will prohibit the provision of gas storage capacity to citizens and residents of Russia, as well as legal entities established in Russia.

We remind you:

EU prepares sanctions against four Russian banks, including the largest private bank Alfa Bank, founded by billionaire Mikhail Fridman, and 130 organizations and individuals.