The United Kingdom, simultaneously with the EU's decision to impose sanctions on 18 Ukrainians, including former President Viktor Yanukovych, is planning to freeze their assets, conduct an investigation and subsequently return misappropriated funds to Ukraine, the UK government has said in a statement.
Noting that the UK has already sent its experts in financial intelligence, money laundering and tracing criminal assets to Kyiv to help Ukraine recover misappropriated assets, the British government recalled that in parallel, EU sanctions that impose an asset freeze on 18 Ukrainians suspected of misappropriating state funds came into effect on March 6.
“The result of these sanctions will be that any assets in the UK which are owned, held or controlled by any of the 18 listed individuals will be frozen, thereby allowing the necessary time for criminal investigations to take place,” reads the statement.
In this regard, the report notes that the government “has laid the necessary legislation in parliament to impose penalties in the UK for breaching these sanctions measures.”
“HM Treasury will be working closely with law enforcement bodies over the coming weeks and months to ensure that we are robustly implementing these measures, including looking to uncover assets which may be hidden behind complex company structures. Those assets that are proven to be the proceeds of corruption can ultimately be returned to Ukraine,” the report says.
The UK government notes that by taking action against former President Yanukovych and 17 others, it sends “a strong message to the Ukrainian government that the UK and European Union will help the Ukrainian people in their hour of need.”
