The Verkhovna Rada approved a bill establishing criminal liability for circumventing sanctions

The Verkhovna Rada approved draft law No. 12406, which provides for criminal liability for violation and circumvention of economic sanctions. About this reported Deputy Chairman of the Committee on Finance, Tax and Customs Policy Yaroslav Zhelezniak.
The draft law provides for amendments to the Criminal and Criminal Procedure Codes of Ukraine, as well as to the Law “On Sanctions”. The adopted norm establishes criminal liability for violation of sanctions — primarily financial — both as a result of intentional actions and due to carelessness.
“Penalty: a fine from UAH 425,000 to 2.04 million or imprisonment for a term of 2 to 10 years. A value threshold of UAH 151,400 has been established to distinguish minor violations. Mandatory additional punishment is a ban on professional activity for up to 15 years, sometimes confiscation of property. Liability for legal entities is also provided for: fines, confiscation of property or even liquidation. Violators can be not only those under sanctions, but also third parties related to them.”Zheleznyak emphasized.
We will remind you that on February 12, the Verkhovna Rada supported in the first reading draft law No. 12374-d on updating the work of ARMA, in particular, strengthening the requirements for the head of the agency and introducing an open competition with the participation of the public.