Joint Proposal for a COUNCIL REGULATION amending Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine
Date: 2022-02-22
Institutions: Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Subjects: EU restrictive measure, Russia, Ukraine, economic sanctions, international sanctions, territorial dispute, territorial law

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   EUROPEAN COMMISSION HIGH REPRESENTATIVE OF THE UNION FOR FOREIGN AFFAIRS AND SECURITY POLICY Brussels, 22.2.2022  JOIN(2022) 17 final/2    DOWNGRADED ON 7.2.2023 2022/0054 (NLE)  Joint Proposal for a COUNCIL REGULATION amending Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine  
 
 
EXPLANATORY MEMORANDUM 

(1) 

(2) 

(3) 

(4) 

Council Regulation (EU) No 269/2014 concerning restrictive measures in respect of 
actions  undermining  or  threatening  the  territorial  integrity,  sovereignty  and 
independence of Ukraine gives effect to restrictive measures provided for in Decision 
2014/145/CFSP. 

On  XXX  2022,  the  Council  adopted  Decision  XXXX  amending  Decision 
2014/145/CFSP that introduces a derogation mechanism for certain operators falling 
under  the  assets  freeze  and  the  prohibition  from  making  funds  and  economic 
resources available to them.  

Further  action  by  the  Union  is  needed  in  order  to  give  effect  to  these  measures  in 
Union law. 

The  High  Representative  of  the  Union  for  Foreign  Affairs  and  Security  Policy  and 
the  European  Commission  propose  to  amend  Regulation  (EU)  No  269/2014 
accordingly. 

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2022/0054 (NLE) 

Joint Proposal for a 

COUNCIL REGULATION 

amending Regulation (EU) No 269/2014 concerning restrictive measures in respect of 
actions undermining or threatening the territorial integrity, sovereignty and 
independence of Ukraine 

THE COUNCIL OF THE EUROPEAN UNION, 

Having  regard  to  the  Treaty  on  the  Functioning  of  the  European  Union,  and  in  particular 
Article 215 thereof 

Having regard to Council Decision 2014/145/CFSP of 17 March 2014 concerning restrictive 
measures in respect of actions undermining or threatening the territorial integrity, sovereignty 
and independence of Ukraine1, 

Having  regard  to  the  joint  proposal  of  the  High  Representative  of  the  Union  for  Foreign 
Affairs and Security Policy and of the European Commission, 

Whereas: 

(1) 

(2) 

(3) 

Council  Regulation  (EU)  No  269/2014  concerning  restrictive  measures  in  respect  of 
actions  undermining  or 
integrity,  sovereignty  and 
the 
independence of Ukraine gives effect to restrictive measures provided for in Decision 
2014/145/CFSP. 

threatening 

territorial 

On  XX  YY  2022,  the  Council  adopted  Decision  XXXX  amending  Decision 
2014/145/CFSP and introducing a derogation mechanism for certain operators falling 
under the assets freeze and the prohibition from making funds and economic resources 
available to them. 

These amendments fall within the scope of the Treaty and therefore regulatory action 
at the level of the Union is necessary in order to implement them, in particular with a 
view to ensuring their uniform application in all Member States. 

(4) 

Council Regulation (EC) No 269/2014 should therefore be amended accordingly, 

HAS ADOPTED THIS REGULATION: 

Council Regulation (EU) No 269/2014 is amended as follows: 

The following Article is inserted: 

Article 1 

‘Article 6b  

1 

OJ L 078, 17.3.2014, p. 16. 

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1.   By way of derogation from  Article 2, the  competent  authorities of a  Member State may 
authorise the release of certain frozen funds or economic resources belonging to the entities 
listed  under  entry  numbers  XX  in  Annex  I,  or  the  making  available  of  certain  funds  or 
economic resources to these entities, under such conditions as the competent authorities deem 
appropriate and after having determined that such funds or economic resources are necessary 
for  the  termination  by  XX  YY  2022  (6  months  after  amending  Regulation  adoption)  of 
operations,  contracts,  or  other  agreements,  including  correspondent  banking  relations, 
concluded with these entities before [date of amending Regulation adoption]. ’ 

This  Regulation  shall  enter  into  force  on  the  day  following  that  of  its  publication  in  the 
Official Journal of the European Union. 

Article 2 

This Regulation shall be binding in its entirety and directly applicable in all Member States. 

Done at Brussels, 

For the Council 
The President 

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