The European Union has introduced as part of its 10th sanctions package additional reporting obligations on funds and economic resources belonging to listed individuals and entities, which were frozen or subject to such a procedure shortly before the listing, the European Council said on Saturday.
“In order to ensure the effectiveness of the asset freeze prohibitions, the Council decided to introduce more detailed reporting obligations on funds and economic resources belonging to listed individuals and entities, which have been frozen or were subject to any move shortly before the listing,” the statement read.
