Brussels, 06/03/2014 (Agence Europe) - On Thursday 6 March, the European Union froze the assets for 12 months of 18 Ukrainian officials accused of misappropriating public funds. This includes the assets of ousted president Viktor Fedorovych Yanukovych.
Most of the former ministers of Yanukovych and those who worked close to him are also targeted by this decision: two of the sons of the former president - Oleksandr Viktorovych and Viktor Viktorovych; the former prime minister Mykola Yanovych Azarov and his son Oleksii; the former minister of the interior Vitalii Yuriovych Zakharchenko; the former prosecutor general Viktor Pavlovych Pshonka; the former head of the security service Oleksandr Hryhorovych Yakymenko; and the former minister for justice Olena Leonidivna Lukash.
The 18 Ukrainians are subject to “criminal proceedings in Ukraine to investigate crimes in connection with the embezzlement of Ukrainian State funds and their illegal transfer outside Ukraine” or are “subject to investigation in Ukraine for involvement in crimes in connection with the embezzlement of Ukrainian State funds and their illegal transfer outside Ukraine”, states the European legislation published in the Official Journal on 6 March. In addition, “the competent authorities of a member state may authorise the release of certain frozen funds or economic resources, provided that [certain] conditions are met”, the legislation states. These initial targeted measures taken by the EU as part of the Ukrainian crisis enter into force the day when an extraordinary European summit focusing on this issue is being held (see other article).
The assets freeze is one of the restrictive measures most often adopted by the EU because it enables a person to be targeted financially without affecting the whole population. The assets freeze bans this person from having access to the funds, from moving the funds or from transferring the funds (cash, cheques, bank deposits or shares) that he/she possesses in the 28 countries of the EU. Switzerland decided to freeze Yanukovych's assets, and those of 19 other officials from the old regime, back on 28 February.
In their conclusions of 3 March, the EU foreign affairs ministers reiterated their earlier conclusions of 20 February regarding the adoption of restrictive measures concerning the freezing and recovery of assets of the people identified as responsible for the misappropriation of public funds, and the assets freeze of the people responsible for human rights violations. (CG)