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Seizing Russian Yachts, Mansions to Get Easier With Draft EU Law

  • Bloc aims to make sanction breaches a criminal offense
  • Rule breaking companies liable to a fine worth 5% of revenue
The Tango superyacht in Palma de Mallorca, Spain.

The Tango superyacht in Palma de Mallorca, Spain.

Photographer: Francisco Ubilla/AP Photo

The European Union proposed a new law that would make it easier to seize sanctioned Russians’ assets from superyachts to Riviera mansions.

The draft rules put forward by the European Commission would extend the list of crimes that allows authorities to move on assets to include sanctions breaches. Rules currently diverge across the EU hampering efforts to control the flow of Russian money across the nations.