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: 2022-04-05
Institutions: Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Subjects: EU restrictive measure, Russia, Ukraine, economic sanctions, international sanctions, legal person, natural person, territorial dispute, territorial law

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   EUROPEAN COMMISSION HIGH REPRESENTATIVE OF THE UNION FOR FOREIGN AFFAIRS AND SECURITY POLICY Brussels, 5.4.2022  JOIN(2022) 8 final/2 -     DOWNGRADED ON 9.2.2023 2022/0109 (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 further derogation options from the asset freeze and 
the  prohibition  to  make  funds  and  economic  resources  available  to  designated 
persons and entities.  

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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2022/0109 (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  that  introduced  further  derogation  options  from  the  asset  freeze  and 
the prohibition to make funds and economic resources available to designated persons 
and entities.  

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 (EU) No 269/2014 should therefore be amended accordingly, 

HAS ADOPTED THIS REGULATION: 

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

(1) In article 4, paragraph 1, point e) is added as follows: 

Article 1 

‘e)  to  be  paid  into  or  from  an  account  of  a  diplomatic  mission  or  consular  post  or  an 
international  organization enjoying immunities in  accordance with  international  law, insofar 
as such payments  are intended to  be used for official  purposes of the diplomatic mission or 
consular post or international organization.’ 

1 

OJ L 078, 17.3.2014, p. 16. 

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(2) Article 6b is replaced as follows: 

‘Article 6b 

1.   By way of derogation from Article 2, the competent authorities of the Member States may 
authorise the release of certain frozen funds or economic resources belonging to the entities 
listed under entry numbers 53, 54 and 55 in Annex I, or the making available of certain funds 
or  economic  resources  to  those  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  24 August 2022,  of  operations,  contracts,  or  other 
agreements,  including  correspondent  banking  relations,  concluded  with  those  entities  before 
23 February 2022. 

2.   By way of derogation from Article 2, the competent authorities of the Member States may 
authorise the release of certain frozen funds or economic resources belonging to the entities 
listed under entry numbers X, Y,  Z  in  Annex  I,  or the making available  of certain  funds or 
economic resources to those 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  (six  months  after  adoption  date),  of  operations,  contracts,  or  other 
agreements,  including  correspondent  banking  relations,  concluded  with  those  entities  before 
(adoption date).’ 

3. By way of derogation from Article 2, the competent authorities of the Member States may, 
under such conditions as they deem appropriate, authorise the release of certain frozen funds 
or economic resources,  or the making available  of certain  funds or economic resources to  a 
natural or legal person, entity or body listed in Annex I, after having determined that: 

(a) 

the  funds  or  economic  resources  are  necessary  for  the  the  sale  and  transfer  by  (six 
months  after  adoption  date)  of  proprietary  rights  in  a  legal  person,  entity  or  body 
established  in  the  Union  where  these  proprietary  rights  are  directly  or  indirectly 
owned  by a natural or legal person, entity or body listed in Annex I; and 

(b) 

the proceeds of such sale and transfer remain frozen.’ 

This Regulation shall enter into force on the day 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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