Robert Houchill has provided his comments to Forbes on the prospects of tougher sanctions in Europe against wealthy Russian individuals

The authorities in the USA have frozen the US-held assets of Russian businessman Oleg Deripaska, including homes owned by him in Washington and New York.

Associate from Maxima Legal, Robert Houchill, was asked by Forbes to provided his comments on the potential for European authorities to begin freezing assets following the example set by the US. “In the UK, the much-discussed Unexplained Wealth Orders provide a very effective mechanism for UK authorities to target the assets of wealthy individuals. The first such orders have been issued and challenges to their legality are ongoing. It is possible that should the courts find the instruments to be lawful, and should relations between Russia and the UK continue to drag, the UK authorities might have new ambition to go after wealthy individuals seen to be connected with the Russian government”, commented Robert.

However, according to Robert, the likelihood of European countries following the US is lessened due to the potential repercussions for European business and economies being much greater than those for the US.

To read the article in full, please see Forbes`s website.