Government approves Czech version of Magnitsky Act
The government has approved a new sanctions law inspired by the US 2016 Magnitsky Act. The legislation will allow Czechia to impose sanctions that have not yet been included in the European Union's sanctions list. Currently there is no real legal tool with which the Czech Republic could sanction a foreign entity on the basis of domestic demand, for example, if the state wanted to prevent an individual from entering or staying on its territory.
The Russian invasion of Ukraine forced the government to speed up the preparation of the draft legislation, which the Cabinet has announced will be adopted by the end of 2023. The proposal now needs to be approved by Parliament.