Bulgaria could become the first country in the world to make its own law under the American „Magnitsky“. A similar idea was launched a few days ago by President Rumen Radev, who met in Boyana with ambassadors of the United States, the European Union and Switzerland. The reason for the talks was precisely the imposition of sanctions under the Magnitsky Act on six Bulgarian citizens.
And the US normative document envisages the imposition of restrictions by the Ministry of Finance on foreigners who have been accused of corruption or human rights violations. The Magnitsky law has so far affected Russians, Africans, and the harsh sanction has led to money transfers around the world going through American correspondent banks, and so absolutely anyone can be stopped.
For its part, the caretaker government published a list of individuals and companies in order to protect the Bulgarian state from possible damage. According to lawyer Ivan Todorov, Bulgaria really should adopt legal regulation in cases of such sanctions. And this law must regulate in detail the protection of Bulgarian citizens and companies from the imposition of sanctions against them. This law can also regulate the imposition of sanctions on Bulgarians who also live in foreign countries, but have committed acts that affect our country. In this case, there must be judicial protection.
Lawyer Mihail Ekimdzhiev is also of the opinion that there should be a special law. It must decide what to do in such a situation, because so far there is no world and European experience to draw on. In addition, any changes in the Criminal Procedure Code would be a sign of goodwill on the part of Bulgaria. And the coverage of these cases of corruption should be a reason to start criminal proceedings, because corruption is a term and means bribery, misdemeanor, abuse of power, etc.
Prosecution of these individuals may be initiated on the basis of information provided to us by the United States. And it can be taken through a bilateral agreement, which according to lawyer Ekimdzhiev exists. Of course, the United States will not provide us with all the data it has.
According to the lawyer, the case may also lead to the European Public Prosecutor’s Office, because severe property sanctions are envisaged, including the closure of companies. And once criminal proceedings are initiated, there are many laws on administrative violations and the penalties provided for in them. According to Ekimdzhiev, a change in the Criminal Procedure Code is enough to provide for cooperation between Bulgaria and the United States, and from then on there is a machine that works effectively.
