‘Frozen’ economic resources of 143 million euros attributable to Russian citizens included in the ‘black list’ of the European Union
It is the legislative decree of 22 June 2007, number 109, the one on the basis of which they were ‘frozen‘economic resources of 143 million euros attributable to Russian citizens included in the’ black list ‘of the European Union.
Here, in summary, is what the 16 articles of the text provide.
Freezing of assets
By “freezing” of economic resources we mean “the prohibition, by virtue of EU regulations and national legislation, of the transfer, disposal or, in order to obtain funds, goods or services in any way, use of economic resources, including, to purely by way of example, the sale, lease, rental or establishment of real security rights “.
Scope of
The decree sets out measures to “prevent the use of the financial system for the purpose of financing terrorism and financing the proliferation of weapons of mass destruction”. It does not apply to commercial sanctions against third countries, including arms embargoes.
Financial Security Committee
The Financial Security Committee is set up at the Ministry of Economy, made up of 15 members and chaired by the Director General of the Treasury. The Committee – supplemented by a representative of the State Property Agency – “adopts all necessary measures for the correct and timely implementation of the freezing measures ordered by the United Nations, the European Union and the Minister of Economy and Finance”. It is the latter, on the proposal of the Committee, that orders the freezing of funds and economic resources held, “including through third parties, natural or legal persons, by natural, legal persons, groups or entities”. The freeze lasts six months, “renewable in the same forms as long as the conditions remain”.
Movements off limits
The ‘frozen’ economic resources “may not be the subject of any act of transfer, disposal or, in order to obtain funds, goods or services in any way, use”. And “it is forbidden to directly or indirectly place funds or economic resources at the disposal of designated subjects or allocate them to their advantage”. The freezing is effective from the day following the date of publication in the Official Gazette and “does not affect the effects of any seizure or confiscation orders, adopted in the context of criminal or administrative proceedings, concerning the same funds or the same economic resources” .
Financial intelligence unit
The powers of the UIF for Italy, provided for by the provisions in force for the prevention of the use of the financial system for the purpose of money laundering, are exercised “also for the fight against the financing of terrorism and the financing of the proliferation of weapons of mass destruction” . The Uif “takes care of the collection of information and data of a financial nature relating to the designated parties, funds and economic resources subject to freezing as well as the circulation of the lists of designated parties and subsequent amendments”.
State property agency
The State Property Agency provides for the custody, administration and management of the frozen resources: “if, in the context of criminal or administrative proceedings, seizure or confiscation measures are adopted, concerning the same economic resources, the management provides the authority that ordered the seizure or confiscation “. In the event of cancellation from the lists or authorization for exemption from freezing, the Committee asks the Special Currency Police Unit of the Financial Police to notify the entitled person: with the same communication, the latter is invited to take over the goods within 180 days. From the cessation of the freezing measures and up to delivery, it is the State Property Agency that takes care of the management of economic resources.
source www.agi.it
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