MOSCOW (Pakistan Point News / Sputnik - 06th July, 2023) A European Parliament committee voted on Thursday in favor of a mandate for talks on a legislation that will seek to criminalize evasion of EU sanctions and expand the list of activities that count as such.
"On Thursday, MEPs in the Civil Liberties Committee adopted a draft negotiating mandate on violating and circumventing EU sanctions... It would introduce a common definition of violations and minimum penalties to ensure that they are punished as criminal offences everywhere in the EU," it said.
EU sanctions include asset freezes, travel bans, arms embargoes and restrictions on business sectors, among other measures. The legislation seeks to punish such practices as hiding or not freezing funds, concealing the true ownership of property, not respecting travel bans, or doing business with state-owned entities of countries subject to sanctions.
The proposal suggests prison sentences of up to five years and fines of up to 10 million Euros ($10.9 million). Companies accused of violating sanctions will be excluded from public tenders and fined up to 15% of their annual turnover.
The committee also authorized interinstitutional talks with EU governments. Once approved by the whole parliament, it will become the legislative body's position for the talks on the final shape of the legislation.
