If the connection between the sanctioned person and the person who owns the property or business is proven, the freezing of assets is a real possibility.
This opinion was expressed by Alessandro Sterpa, Associate Professor of Public Law at the University of Tuscia (Università della Tuscia), commenting to Ukrinform on the high-profile investigation into a villa in Italy belonging to Head of the Federation Council of the Federal Assembly of the Russian Federation, Valentina Matvienko.
“The freezing of assets can only take place if the person or entity is on the list of subjects affected by the sanctions. If an entity is not on the list, in any case, the investigative activity (in particular the Guardia di Finanza) can verify the existence of a link between the person subject to measures and the entity. The typical example is that of the boats that often fly the flag of Costa Rica rather than Panama and are of entities placed there. In any case, the investigation activity can verify whether the goods are in the factual availability (riconducibilita in italiano – traceability) of a sanctioned subject. If the link is proven, the government can apply the sanction to the entity, the company, or the good,” explained Professor Sterpa.
He noted that in Italy, which is a member of the European Union, the rule of law applies, so a person against whom sanctions have been imposed can try to challenge the decision in court.
“We are not the Russian autocracy! We allow everyone to defend their rights! If the judge confirms the connection, you can act by freezing the asset,” said the professor at the University of Tuscia.
In addition, in his opinion, after the court’s decision, the property of sanctioned individuals, such as Head of the Federation Council Valentina Matvienko, can not only be frozen but also sold.
“In theory, the goods are not confiscated definitively, but the road could be followed with an agreement between all European countries. With a new regulatory framework, the disposal of assets could be considered as retaliation of offsetting expenses or third parties for the benefit of the reconstruction of Ukraine. On the other hand, the Russians are hitting infrastructure and private assets that are not always considered legitimate,” Sterpa said.
As reported by Ukrinform, Matvienko’s son, who is under sanctions in several countries, lives in Italy in a villa belonging to his mother.
Source: Italian expert: Matvienko's assets in Italy may be used for Ukraine's reconstruction by court order
