5.12.2014 EN Official Journal of the European Union L 349/58
COUNCIL DECISION 2014/872/CFSP
of 4 December 2014
amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine, and Decision 2014/659/CFSP amending Decision 2014/512/CFSP
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty on European Union, and in particular Article 29 thereof,
Whereas:
(1) On 31 July 2014, the Council adopted Decision 2014/512/CFSP (1).
(2) On 8 September 2014, the Council adopted Decision 2014/659/CFSP (2) in order to impose further restrictive measures.
(3) The Council considers it necessary to clarify certain provisions.
(4) Further action by the Union is needed in order to implement certain measures,
Decision 2014/512/CFSP is hereby amended as follows:
(1) Article 1 is amended as follows:
(a) paragraph 3 is replaced by the following:
(b) the following paragraph is added:
(a) all the terms and conditions of such drawdown or disbursements:
(i) were agreed before 12 September 2014; and
(ii) have not been modified on or after that date; and
(b) before 12 September 2014, a contractual maturity date had been fixed for the repayment in full of all funds made available and for the cancellation of all the commitments, rights and obligations under the contract.
(2) In Article 2, paragraph 4 is replaced by the following:
(3) In Article 3, paragraph 3 is replaced by the following:
(4) In Article 3a, paragraph 3 is replaced by the following:
(5) Article 4 is replaced by the following:
(a) oil exploration and production in waters deeper than 150 metres;
(b) oil exploration and production in the offshore area north of the Arctic Circle;
(c) projects that have the potential to produce oil from resources located in shale formations by way of hydraulic fracturing; it does not apply to exploration and production through shale formations to locate or extract oil from non-shale reservoirs.
(a) technical assistance or other services related to the equipment referred to in paragraph 1;
(b) financing or financial assistance for any sale, supply, transfer or export of the equipment referred to in paragraph 1 or for the provision of related technical assistance or training;
(6) In Article 4a, paragraph 1 is replaced by the following:
(a) oil exploration and production in waters deeper than 150 metres;
(b) oil exploration and production in the offshore area north of the Arctic Circle;
(c) projects that have the potential to produce oil from resources located in shale formations by way of hydraulic fracturing; it does not apply to exploration and production through shale formations to locate or extract oil from non-shale reservoirs.’
Recital 5 of Decision 2014/659/CFSP is replaced by the following:
‘(5) In this context, it is appropriate to extend the prohibition in relation to certain financial instruments. Additional restrictions on access to the capital market should be imposed in relation to State-owned Russian financial institutions, certain Russian entities in the defence sector, and certain Russian entities whose main business is the sale or transportation of oil. These prohibitions do not affect the financial services not referred to in Article 1.’
This Decision shall enter into force on the date of its publication in the Official Journal of the European Union.