SUPERYACHTS: WHY THE DISTINCTION BETWEEN FREEZING AND SEIZING IS IMPORTANT TO UNDERSTAND THE APPLICATION OF SANCTIONS IN EUROPE

On 7 March, Superyacht News carried an article featuring comments that that the current sanctions are ‘freezing orders’ not “confiscation orders”, citing French law it says that owners could be construed as committing a criminal offence if they intend, for example, to hide or divest the goods under sanctions, or otherwise breach the sanctions – or seeking remove the assets from the jurisdiction (by sailing it away).

https://www.superyachtnews.com/business/freezing-vs-seizing

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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