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EU freezes assets of Ukrainians for fund misuse

March 5, 2014

BRUSSELS (AP) — The European Union says it is freezing the financial assets in Europe of 18 people held responsible of misusing state funds in Ukraine.

The EU’s 28 foreign ministers approved the list of names Wednesday. The identity of those targeted was withheld pending the official publication in the EU’s legal journal Thursday, at which point the sanctions will be effective for the coming 12 months.

Officials say releasing the names could give those targeted a last chance to pull their assets out of the 28-nation bloc.

The ministers said the sanctions also contain provisions facilitating the recovery of the frozen funds for Ukraine’s new government “once certain conditions are met.”

Wednesday’s move follows similar action by Switzerland and Austria last week.

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