EU proposes to make seizing assets easier, including of sanctioned oligarchs -document

FILE PHOTO: Spanish Civil Guards stand by the Tango superyacht, belonging to Russian oligarch Viktor Vekselberg, which was seized on behalf of U.S. authorities, as it is docked at the Mallorca Royal Nautical Club, in Palma de Mallorca, in the Spanish island of Mallorca, Spain, April 4, 2022. Juan Poyates Oliver/Handout via REUTERS

The European Commission wants to make it easier to confiscate assets linked to serious illegal activities and suspected criminals, including those evading European Union sanctions against the Kremlin, according to a draft document seen by Reuters.

The legislative proposal, due to be published on Wednesday and still subject to changes, is aimed at addressing a longstanding weakness in the EU where many states lack sufficiently robust legal frameworks to seize criminal assets, making it easier for criminals to hide their resources and benefit from illegal activities.