Official says EU can allow Russian asset confiscation in October

BRUSSELS, Jul 12 (PRIME) -- A directive allowing the E.U. to confiscate Russian assets in case of sanctions evasion will be adopted in October, Commissioner for Justice Didier Reynders said on Tuesday.

"We have received parliament consent. There is also consensus in the council. The document will be officially approved by the council after the summer break. The directive will be adopted in October. We are advancing very fast," Reynders said.

The European Commission presented a package of proposals on possible confiscation of frozen Russian assets and on criminal liability for sanctions evasion on May 25. According to Reynders, an attempt at sanctions evasion could be penalized by asset confiscation, and in this case the funds would be sent to Ukraine.

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