European Council obliges all sanctioned to notify EC about assets in Europe

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The Council of the European Union has instructed entities on anti-Russia sanctions lists to report their presence in European countries to regulators and to cooperate with local authorities to block them. This is specified EU Official Journal.

“Failure to comply with these requirements will be considered breach of sanctions,” the message said.

It is reported that natural and legal persons must notify European regulators within six weeks at the latest after being placed on the sanctions list.

Earlier, Russia’s Permanent Mission in Vienna described the EU’s 10th anti-Russian sanctions package as illegitimate and used the following statements: restrictions will not go unanswered from Moscow. The permanent mission stressed that restrictions on the Russian Federation were passed without the approval of the United Nations Security Council, therefore they are illegal. The statement also states that for the first time, the European Union has expanded sanctions on the transit of a number of goods through Russian territory in order to “pressure the trade relations of third countries”.

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