EC: Criminalization of EU sanctions circumvention won’t be retroactive

The criminalization of circumvention of sanctions is not retroactive and will not affect previous attempts to hide or withdraw frozen funds of Russians in the EU, EC representative Christian Wiegand said at a briefing, Report informs.

But if someone tries to withdraw funds or hide them after the adoption of this legislation, in this case it will be possible to work with these funds, including confiscating them. The question is when the crime was committed, he said.

Earlier in the day, high-ranking representatives of the EU countries started to discuss the proposal of the EC regarding the adoption of a price cap for Russian oil at $60 per barrel.

The restriction should come into effect on December 5, when the EU embargo on the import of crude oil carried by Russian ships comes into force.