12:12 08.09.2017

EC reveals no Yanukovych assets frozen under EU sanctions

EC reveals no Yanukovych assets frozen under EU sanctions

The European Commission and European Union member states have not discovered any financial assets or economic resources belonging to disgraced former Ukrainian President Viktor Yanukovych which were frozen as a result of EU sanctions, lawyers from Joseph Hage Aaronson LLP (JHA LLP, UK) have said.

"Under Article 8 of Council Regulation (EU) No 208/2014, which imposed the European Union's sanctions on President Yanukovych, EU Member States and others were required to inform the European Commission immediately of all and any information that they had regarding funds and economic resources owned or controlled by President Yanukovych which were frozen in accordance with the Regulation," said a press release by JHA made public by Yuriy Kirasir, the press secretary of Viktor Yanukovych's son Oleksandr Yanukovych.

The press release says that notwithstanding the fact that 3.5 years have passed since the sanctions were imposed and despite the abovementioned demand to provide information, "the European Commission has now formally confirmed that it has not received under that Article any information on funds or economic resources owned or controlled by President Yanukovych which were frozen as a result of the EU sanctions."

Yanukovych's lawyers in March 2017 said Swiss officials confirmed that there were no bank accounts or other assets registered in the name of Viktor Yanukovych.

JHA LLP is a law firm based in London that represents the interests of Viktor Yanukovych and his son Oleksandr Yanukovych.

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