A State froze my bank accounts as part of sanctions. Is this a violation of my property rights?

What the Law Says

EU sanctions that freeze assets — including bank accounts — are permitted only if they comply with fundamental rights, especially the right to property and the right to an effective remedy.

The Charter of Fundamental Rights of the European Union guarantees the right to property in Article 17. It states that 'Everyone has the right to own, use, dispose of and bequeath his or her lawfully acquired possessions.' However, this right is not absolute: 'No one may be deprived of his or her possessions, except in the public interest and in the cases and under the conditions provided for by law, subject to fair compensation being paid in good time for their loss.'

EU sanctions regimes (e.g., Council Regulation (EU) 2023/XXX on restrictive measures against [target]) empower authorities to freeze funds and economic resources. Such measures must meet strict criteria: necessity, proportionality, and legality — and must allow for judicial review.

Under Article 47 of the Charter, you have the right to an effective remedy before a tribunal. This means any asset freeze must be promptly reviewable by a court — typically within 48 hours of implementation — and you must be able to challenge it substantively.

Statutory Text

Everyone has the right to own, use, dispose of and bequeath his or her lawfully acquired possessions.

— Charter of Fundamental Rights of the European Union, Art. 17(1)

Statutory Text

No one may be deprived of his or her possessions, except in the public interest and in the cases and under the conditions provided for by law, subject to fair compensation being paid in good time for their loss.

— Charter of Fundamental Rights of the European Union, Art. 17(2)

Statutory Text

Everyone whose rights and freedoms guaranteed by the law of the Union are violated has the right to an effective remedy before a tribunal.

— Charter of Fundamental Rights of the European Union, Art. 47(1)

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