The UK's National Crime Agency (NCA) has achieved a historic success in the fight against sanctions violations

On 29 July 2024, the NCA announced the confiscation of more than £780,000 associated with Russian oligarch Pyotr Aven. The funds were seized from bank accounts linked to Aven and cash from his estate outside London following a nearly two-year investigation.

 This is the first successful confiscation of funds in a sanctions evasion case in the UK.

 The head of the NCA's anti-kleptocracy unit said: ‘The outcome demonstrates the NCA's commitment to enforcing the UK sanctions regime and returning illegally held funds to the public purse.

This case sets an important precedent and proves the effectiveness of the mechanisms for confiscating the assets of sanctions violators.

 It is important to advocate that these and other assets seized for sanctions violations be used for compensation and reconstruction of Ukraine. Ukraine should also introduce criminal liability for sanctions circumvention as soon as possible, as the representatives of the ILI stressed at the expert discussion on the draft amendments to the legislation, which will soon be registered in the Parliament.