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Abstract
Western sanctions regimes exhibit a high level of coordination. This pertains to nearly all aspects of the sanctions policy, encompassing approaches to the potential confiscation of assets belonging to individuals subjected to blocking sanctions. However, nations advocating for independent sanctions against Russia are pursuing distinct routes toward the shared objective.
The evolving approaches to asset confiscation allow for the identification of two primary realms of legal regulation concerning this matter. Within the respective country's legislation, confiscation might be regarded either as a tool within sanctions legislation or as a measure of accountability for breaching sanctions laws. To date, only two countries have opted to employ confiscation as a standalone instrument of sanctions policy: Ukraine and Canada. It's possible that the United States might follow suit, yet currently, akin to Switzerland, they employ confiscation solely as part of their efforts to counter unlawful activities.
The draft directives proposed by the European Commission underscore the EU's dedication to safeguarding the commitment to protect private property. These directives envision the prospect of asset confiscation in extraordinary circumstances, serving as a means of influence in combating criminal endeavors. Considering the significance of upholding private property rights to cultivate a favorable investment environment, it is probable that the second approach will gain predominance. In this context, asset confiscation will be regarded solely as a reactive measure in response to infringements of the laws of nations that endorse autonomous sanctions.