Corruption and Human Rights: Sanctions
The question
To ask the Chancellor of the Exchequer, if she will bring forward legislative proposals to enable the repurposing of assets seized from sanctions violations to fund reparations for victims of serious (a) human rights and humanitarian law violations and (b) corruption.
Answered by Emma Reynolds
UK sanctions legislation does not provide powers to seize frozen assets. Assets owned or controlled by a designated person are frozen immediately by the person in possession or control of them. An asset freeze does not involve a change in ownership of the frozen funds or economic resources, nor are they transferred to HM Treasury.
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