On Tuesday 12 December, negotiators from the Spanish Presidency and the European Parliament reached a political agreement on the May 2022 directive on asset recovery and confiscation(see EUROPE B13198A7, B12960A6).
The new directive, which would also apply to the confiscated assets of Russian oligarchs linked to the war in Ukraine when the directive on restrictive measures becomes operational (individuals and companies profiting from the circumvention of sanctions would have their assets...