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Europe Looks to Beef Up Powers to Seize Russian Assets

  • Proposals include asset recovery offices in member states
  • Assets could be confiscated if property stems from crimes

The European Union will propose new laws that would give member states more power to seize criminal assets, potentially including those of sanctioned Russian individuals and entities. 

The EU proposal, aimed at strengthening the bloc’s tools against organized crime, would expand the ability of member states to trace, freeze and investigate certain assets and will set out the conditions under which those assets could be confiscated if criminal activity is involved, according to people familiar with the matter and documents seen by Bloomberg.