As a result of international sanctions taken against Russian oligarchs, France is tightening controls on Russian assets, the Ministry of Justice said in a statement on Friday. The goal ? Better identify holders of frozen assets.
“Priority treatment would be given to reports transmitted to the prosecution by the financial intelligence unit TRACFIN, under the detection of Russian assets suspected of being hosted on French territory under illicit conditions”, details the press release.
The Keeper of the Seals Éric Dupond-Moretti chaired a meeting this Friday morning at the Ministry of Justice, in the presence of Bruno Le Maire, Minister of the Economy and Olivier Dussopt, Minister Delegate in charge of Public Accounts, in order to clarify the answer. administrative and judicial to bring in France to the war waged by the Russians since February 24.
More than 500 Russian personalities or entities are currently targeted by European sanctions issued in response to the invasion of Ukraine. Their assets and the economic resources in their possession must be progressively frozen as European states manage to locate them and link them to their owners.
Systematic opening of legal proceedings
Public prosecutors “will be invited to systematically open legal proceedings” with each report to verify that the holders of frozen assets are not violating the sanctions or the law. If necessary, the Keeper of the Seals recommends the seizure of identified “criminal” assets. The ministry also specifies that the confiscated property will then be given priority to non-profit organizations.
“This targeted action to fight against the possession of illicit assets of any kind is intended to be an immediate extension of the decisions to freeze assets that have been taken or to intervene with regard to persons appearing on the European sanctions lists” , indicate the services of Éric Dupond-Moretti.
Following the freezing of the assets of the Russian oligarchs, France has already blocked five boats – four cargo ships and a yacht – as part of the retaliatory measures taken after the invasion of Ukraine by Russia. A mega-yacht, owned by a company linked to the boss of the Russian oil giant Rosneft, was seized on Thursday in the south of France, one of the most tangible acts of the hunt for luxury goods by Russian oligarchs close to Vladimir Putin.