On July 1, the National Financial Prosecutor’s Office launched a preliminary investigation into the property of Russian oligarchs. The agency is interested in the assets of businessmen in France, writes Le Parisien.
According to the publication, confirmed by the prosecutor’s office, the investigation concerns organized money laundering, corruption, and tax crimes. The agency intends to find out under what circumstances Russian entrepreneurs – allegedly close to the authorities – could get their hands on significant real estate assets.
The investigation was entrusted to a division that deals with major financial crimes, and was launched on an application filed in mid-May.
On July 21, Bloomberg learned that the European Union plans to oblige sanctioned Russians to declare all assets on its territory. Failure to report any property would be considered sanction evasion, with confiscation being one of the penalties.
The current legislation assumes that sanctioned assets can only be frozen, which means that they cannot be used by the European authorities. The new idea is connected with the intention of Brussels to expand its powers in order to be able to send the confiscated to Ukraine.