Article 1, Point (1) · Council Decision (CFSP) 2026/1845

Contents

(1)Article 2 is amended as follows:

(a)the following paragraph is inserted:‘28a.By way of derogation from paragraphs 1 and 2, the competent authorities of a Member State may authorise the release of certain frozen funds or economic resources belonging to natural or legal persons, entities or bodies listed in the Annex pursuant to paragraph 1, point (k) of this Article, or the making available of certain funds or economic resources to those natural or legal persons, entities or bodies under such conditions as the competent authorities deem appropriate and after having determined that:

(a)such release or making available of funds or economic resources is necessary to allow a payment due by those natural or legal persons, entities or bodies listed in the Annex pursuant to paragraph 1, point (k) of this Article or by an insurance provider as a result of a risk for which those natural or legal persons, entities or bodies listed in the Annex pursuant to paragraph 1, point (k) of this Article are liable, to be made to an entity established in the Union, in a country member of the European Economic Area, in Switzerland or in a partner country as listed in Annex VII to Decision 2014/512/CFSP, or to a national or resident of a Member State, of a country member of the European Economic Area, of Switzerland or of a partner country as listed in Annex VII to Decision 2014/512/CFSP, and not listed in the Annex; and

(b)such payment constitutes the indemnity or benefit provided further to the materialisation of a risk for which those natural or legal persons, entities or bodies listed in the Annex pursuant to paragraph 1, point (k) of this Article are liable.’

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(b)the following paragraphs are added:‘37.By way of derogation from paragraphs 1 and 2 of this Article, the competent authorities of the Member States may, under such conditions as they deem appropriate, authorise:

(a)the disposal or transfer of shares, participations or other equity instruments by a credit institution established in the Union to an entity established in the Union that is, prior to such transfer, minority-owned directly or indirectly, individually or jointly, by one or both of the individuals listed under entries number 674 and 675 under the heading “Persons” in the Annex to this Decision, where the transfer would result in an increase of the shareholdings of one or both those individuals in that entity after having determined that such disposal or transfer is carried out on the basis of a put option right contractually agreed and duly exercised prior to 28 February 2022, but not yet effected as at the date of entry into force of this derogation, provided that any shares or participations of those individuals, including those due to an increase of their shareholdings following the transfer, are frozen;

(b)the release of certain frozen funds or economic resources, or the making available of certain funds or economic resources belonging to, owned, held or controlled, directly or indirectly, individually or jointly, by one or both of the individuals listed under entries 674 and 675 under the heading “Persons” in the Annex, or by any entity directly or indirectly owned, controlled or participated by those individuals, or funds or economic resources owned, held or controlled by such individuals in entities or credit institutions listed under the entries 198 or 270 under the heading “Entities” in the Annex after having determined that:

(i)such release or making available of funds or economic resources is carried out for the sole purpose of enabling the counterparty to discharge its payment obligation owed to a credit institution established in the Union pursuant to a put option right contractually agreed and duly exercised prior to 28 February 2022, but not yet effected as at the date of entry into force of this derogation;

(ii)the funds or economic resources released or made available are transferred directly to the credit institution established in the Union in satisfaction of such contractual obligation; and

(iii)the credit institution established in the Union to which the consideration is paid is not a person, entity or body listed in the Annex.

38a.Paragraph 1 of this Article shall not apply to funds or economic resources of JSC Russian Railways which are necessary for the transport by rail of goods or persons, or the provision of related railway infrastructure, by JSC Russian Railways between Russia and the Union, in transit through the Union, between the Kaliningrad Oblast and Russia, or within Russia, or to funds or economic resources of JSC Russian Railways necessary for the provision of services related to the operation, maintenance or security of such rail transport.38b.Paragraph 2 of this Article shall not apply to the making available of funds or economic resources to JSC Russian Railways which are necessary for the transport by rail of goods or persons, or the provision of related railway infrastructure, by JSC Russian Railways between Russia and the Union, in transit through the Union, between the Kaliningrad Oblast and Russia, or within Russia, or to the making available of funds or economic resources to JSC Russian Railways necessary for the provision of services related to the operation, maintenance or security of such rail transport.39.Paragraphs 1 and 2 of this Article shall not apply to funds or economic resources belonging to, owned, held or controlled by the entities listed under entry numbers 975, 976 and 977 under the heading “Entities” in the Annex or to the making available of funds or economic resources, directly or indirectly, to or for the benefit of those entities, provided that those funds or economic resources are strictly necessary with regard to the Paks II project for activities necessary for the establishment, operation, maintenance, fuel supply and retreatment and safety of civil nuclear capabilities and the continuation of design, construction and commissioning required for the completion of civil nuclear facilities in that project.Entities making funds or economic resources available to the entities referred to in this paragraph shall notify the competent authority of Hungary of any activity pursuant to which funds or economic resources are used or made available within two weeks of the start of that activity. Hungary shall inform the other Member States and the Commission of any information received under this paragraph within two weeks of receipt of that information.’;