The authors are politicians representing 18 European Union member states. The opinions expressed belong to them.

(CNN) Sometimes a name means everything. In this case, the name Sergei Magnitsky has been globally synonymous with how to fight human rights abuse in the 21st century. His sacrifice has resonated with victims of human rights abuse in every corner of the globe. Legislative acts have been passed bearing his name, creating serious consequences for human rights abusers around the world.

Sergei Magnitsky was a Russian lawyer who sacrificed his life at the age of 37, standing up to the corruption of the Putin regime. The way in which the Russian government tried to cover up his murder and exonerate the people involved became a symbol of impunity and kleptocracy worldwide. That is why Magnitsky's bold sacrifice crossed national borders and spoke to people everywhere.

The Magnitsky Acts, which are imposed visa sanctions and asset freezes on human rights violators, have become emblematic of fighting impunity and kleptocracy around the world. In the 21st century, many human rights abuses are committed for financial gain. Targeting those abusers' money abroad and their travel is one of the most effective ways of creating consequences. There can be no impunity for generals in Myanmar who hunt down Rohingyas, for arms dealers who breach the weapons embargo against South Sudan, the rapists in the Central African Republic or the killers of the Saudi journalist Jamal Khashoggi.

That is why the idea of a Magnitsky Act started with a Russian atrocity, but is now global in its scope. Human rights violators in Saudi Arabia, Nicaragua, South Sudan, Burma and many other countries are already being targeted with Magnitsky sanctions legislation in six countries: the United States, Canada, UK, Estonia, Latvia and Lithuania.

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We now need to take the next bold step. We need to establish an EU-wide Magnitsky Act. The European Parliament has already called for this many times and in 2014 even proposed visa bans and asset freezes against people responsible for the Magnitsky murder. Only a few Member States took up this proposal.

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