{"id":716,"date":"2024-09-25T04:34:59","date_gmt":"2024-09-25T08:34:59","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/?p=716"},"modified":"2024-09-25T04:35:01","modified_gmt":"2024-09-25T08:35:01","slug":"netherlands-fines-imposed-for-making-funds-available-to-a-designated-person","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2024\/09\/25\/netherlands-fines-imposed-for-making-funds-available-to-a-designated-person\/","title":{"rendered":"Netherlands &#8211; fines imposed for making funds available to a designated person"},"content":{"rendered":"\n<p>Further to <a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2023\/06\/01\/netherlands-arrest-on-suspicion-of-breach-of-sanctions-act\/\">our earlier post<\/a> from July 2023 regarding the arrest of a 73-year old individual, the Dutch Public Prosecution Service <a href=\"https:\/\/www.om.nl\/actueel\/nieuws\/2024\/09\/23\/transacties-na-verdenking-overtredingen-sanctiewet\">has announced<\/a> that it has reached a settlement both with the individual and a related company. The press release is only available in Dutch and was not included amongst those published in English.<\/p>\n\n\n\n<p>The company has been fined \u20ac195,000 and the individual, the company&#8217;s director, has been fined \u20ac20,000. The company and the individual have not been named.<\/p>\n\n\n\n<p>The fines have been imposed because at the end of 2021 the company paid out dividends of approximately \u20ac18m to one of its shareholders who was a designated person under the EU&#8217;s Russian sanctions. The company also did not freeze the designated person&#8217;s shares, and continued to allow the shares to vote.<\/p>\n\n\n\n<p>In addition, in 2019, a loan of \u20ac100,000 was repaid to a different Russian designated person in breach of the EU&#8217;s asset freeze.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Further to our earlier post from July 2023 regarding the arrest of a 73-year old individual, the Dutch Public Prosecution Service has announced that it has reached a settlement both with the individual and a related company. The press release is only available in Dutch and was not included amongst those published in English. The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2024\/09\/25\/netherlands-fines-imposed-for-making-funds-available-to-a-designated-person\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Netherlands &#8211; fines imposed for making funds available to a designated person&#8221;<\/span><\/a><\/p>\n","protected":false},"author":656,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[20,12,31,18],"ppma_author":[7],"class_list":["post-716","post","type-post","status-publish","format-standard","hentry","category-79","tag-financial-sanctions","tag-fine","tag-netherlands","tag-russia"],"authors":[{"term_id":7,"user_id":656,"is_guest":0,"slug":"mhandley","display_name":"Mark Handley","avatar_url":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-content\/uploads\/sites\/65\/2023\/09\/handleymark-100x100.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/users\/656"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/comments?post=716"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/716\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/media?parent=716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/categories?post=716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/tags?post=716"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/ppma_author?post=716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}