EU Sets Up 'Freeze and Seize' Task Force to Crack Down on Listed Oligarchs' Assets
To enforce the deluge of sanctions placed on Russia and Belarus following their invasion of Ukraine, the EU established the "Freeze and Seize" task force to work with other nations including the U.S., the U.K., Canada, France and Germany, the European Commission announced. The commission said the task force will work closely with the "Russian Elites, Proxies, and Oligarchs" task force set up under an identical premise. The task forces' first meetings took place March 11 and 18 and involved voices from the commission, points of contact from each EU member state, Europol, Eurojust and other European agencies. The task force will identify and seize assets of listed Belarusian and Russian oligarchs.
“This coordination will make the prosecution of the listed Russian and Belarussian oligarchs in the Union a concrete possibility," EU Commissioner for Justice Didier Reynders said. "Such initiatives are vital to achieve the rapid freezing and confiscation of the assets owned by individuals and entities targeted by the sanctions. We must therefore continue to step up our work together to identify oligarchs who help finance or organise actions in Ukraine, or who pursue illegal activities on the territory of the Union. Our joint action can make a difference globally. It truly shows solidarity and unity in the face of war.”