Contents
- 1. By way of derogation from Article 2, the competent authori…
- 2. By way of derogation from Article 2, the competent authori…
- 2a. By way of derogation from Article 2, the competent authori…1 change
- 2b. By way of derogation from Article 2, the competent authori…2 changes
- 2c. By way of derogation from Article 2, the competent authori…1 change
- 2d. By way of derogation from Article 2, the competent authori…2 changes
- 3. By way of derogation from Article 2, the competent authori…3 changes
- 4. By way of derogation from Article 2, the competent authori…1 change
- 5. By way of derogation from Article 2, the competent authori…1 change
- 5a. By way of derogation from Article 2, the competent authori…4 changes
- 5aa. By way of derogation from Article 2, competent authorities…3 changes
- 5b. By way of derogation from Article 2, the competent authori…3 changes
- 5c. By way of derogation from Article 2, the competent authori…2 changes
- 5d. By way of derogation from Article 2, the competent authori…2 changes
- 5e. By way of derogation from Article 2, the competent authori…6 changes
- 5ea. By way of derogation from Article 2, the competent authori…3 changes
- 5f. By way of derogation from Article 2 of this Regulation, th…3 changes
- 5g. By way of derogation from Article 2, the competent authori…2 changes
- 5h. By way of derogation from Article 2 of this Regulation, an…3 changes
- 5i. By way of derogation from Article 2 of this Regulation, an…3 changes
- 5j. By way of derogation from Article 2 of this Regulation, th…2 changes
- 5k. By way of derogation from Article 2, the competent authori…2 changes
- 5l. By way of derogation from Article 2, the competent authori…2 changes
- 5m. By way of derogation from Article 2, the competent authori…2 changes
- 6. The Member State concerned shall inform the other Member S…1 change
Article 6b#
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 53, 54 and 55 under heading ‘B. Entities’ 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 a Member State may authorise the release of certain frozen funds or economic resources belonging to the entities listed under entry numbers 79, 80, 81 and 82 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 9 October 2022, of operations, contracts, or other agreements, including correspondent banking relations, concluded with those entities before 8 April 2022.
2a.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 entity listed under entry number 108 in Annex I, or the making available of certain funds or economic resources to that entity, 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 22 August 2023, of operations, contracts, or other agreements, including correspondent banking relations, concluded with that entity before 21 July 2022.
2b.By way of derogation from Article 2, the competent authorities of a Member State 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 the entity listed under entry number 108 in Annex I, after having determined that the funds or economic resources are necessary for the completion, by 17 June 2023, of an ongoing sale and transfer of proprietary rights directly or indirectly owned by that entity in a legal person, entity or body established in the Union. That deadline does not retroactively validate divestments not compliant with the necessary requirements under this Regulation.
2c.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 126 and 127 under the heading ‘Entities’ 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 17 June 2023, of operations, contracts, or other agreements, including correspondent banking relations, concluded with those entities before 16 December 2022.
2d.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 198, 199 and 200 under the heading ‘Entities’ 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 26 August 2023 of operations, contracts, or other agreements, including correspondent banking relations, concluded with those entities before 25 February 2023, or, with respect to the entity listed under entry number 198 under the heading ‘Entities’ in Annex I, for transactions for the disbursement of funds by the Jewish Claims Conference to beneficiaries in the Russian Federation by 31 December 2024, irrespective of when the operations, contracts or other agreements were concluded.
3.By way of derogation from Article 2, the competent authorities of a Member State 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 sale and transfer by 31 May 2023, or within 6 months from the date of listing in Annex I, whichever is latest, of proprietary rights in a legal person, entity or body established in the Union where those 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.
4.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 entity listed under entry number 91 in Annex I, or the making available of certain funds or economic resources to that entity, under such conditions as the competent authorities deem appropriate and after having determined that such funds or economic resources are necessary for the completion of transactions, including sales, which are strictly necessary for the wind-down, by 31 December 2022, of a joint venture or similar legal arrangement concluded before 16 March 2022, involving a legal person, entity or body listed in Annex XIX to Regulation (EU) No 833/2014.
5.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 entity listed under entry number 101 in Annex I, or the making available of certain funds or economic resources to that entity, 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 7 January 2023 of operations, contracts or other agreements concluded with, or otherwise involving, that entity before 3 June 2022.
5a.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 belonging to the entities listed under entry numbers 82 and 101 under the heading ‘Entities’ in Annex I, or the making available of certain funds or economic resources to those entities, after having determined that:
(a)such funds or economic resources are necessary for the disposal or the transfer of securities by an entity established in the Union, currently or previously controlled by the entity listed under entry number 82 under the heading ‘Entities’ in Annex I;
(b)such disposal or transfer is completed by 31 December 2023; and,
(c)such disposal or transfer is carried out on the basis of operations, contracts or other agreements concluded with, or otherwise involving, the entities listed under entry numbers 82 and 101 under the heading ‘Entities’ in Annex I, before 3 June 2022.
5aa.By way of derogation from Article 2, competent authorities of a Member State may authorise the conversion by 25 December 2023 by nationals or residents of a Member State, or an entity established in the Union, of a depositary receipt with Russian underlying security held with the entity listed under entry number 101 under the heading ‘Entities’ in Annex I for the purpose of selling the underlying security, and the making available of funds linked to the conversion of the depositary receipt and to the sale of the underlying security directly or indirectly to that entity in Russia, under such conditions as the competent authorities deem appropriate and after having determined that:
(a)the depositary receipt was issued before 3 June 2022;
(b)the relevant request for authorisation is submitted by 25 September 2023;
(c)the holder of the depositary receipt is able to demonstrate that such conversion is necessary for the sale of the underlying security;
(d)the sale of the underlying security is compliant with prohibitions under Regulation No 833/2014, including Articles 5 and 5f; and
(e)no funds will be made available to any other entity listed in Annex I.
5b.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 belonging to the entity listed under entry number 190 under the heading ‘Entities’ in Annex I, or the making available of certain funds or economic resources to that entity, after having determined that such funds or economic resources are necessary for the termination by 26 August 2023 of operations, contracts or other agreements concluded with, or otherwise involving, that entity before 25 February 2023.
5c.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 natural person listed under entry number 695 under the heading ‘Persons’ in Annex I, or the making available of certain funds or economic resources to this natural person or an entity owned by this natural person, under such conditions as the competent authorities deem appropriate and after having determined that such funds or economic resources are necessary for the completion of transactions, including sales, which are strictly necessary for the wind-down, by 31 August 2023, of a joint venture or similar legal arrangement established in Russia with this natural person or an entity owned by this natural person before 28 February 2022.
5d.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, owned, held or controlled by a natural or legal person, entity or body listed in Annex I, or the provision of services to such a natural or legal person, entity or body, under such conditions as they deem appropriate and after having determined that this is strictly necessary for the setting-up, certification or evaluation of a firewall which:
(a)removes the control by the natural or legal person, entity or body listed in Annex I over the assets of a non-listed legal person, entity or body incorporated or constituted under the law of a Member State and which is owned or controlled by the former; and
(b)ensures that no further funds or economic resources accrue for the benefit of the listed natural or legal person, entity or body.
5e.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 56, 270, 579 and 726 under the heading ‘Entities’ in Annex I, under such conditions as the competent authorities deem appropriate and after having determined that:
(a)this is necessary to allow a payment due by the entities listed under entry numbers 56, 270, 579 and 726 under the heading ‘Entities’ in Annex I 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 VIII to Council Regulation (EU) No 833/2014note, 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 VIII to Regulation (EU) No 833/2014; and
(b)such payment constitutes the indemnity or benefit provided further to the materialisation of a risk and is not in breach of Article 2(2) of this Regulation.
5ea.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 natural or legal persons, entities or bodies listed in Annex I pursuant to Article 3(1), point (k), 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 Annex I pursuant to Article 3(1), point (k) or by an insurance provider as a result of a risk for which those natural or legal persons, entities or bodies listed in Annex I pursuant to Article 3(1), point (k) 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 VIII to Regulation (EU) No 833/2014, 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 VIII to Regulation (EU) No 833/2014 and not listed in Annex I; 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 Annex I pursuant to Article 3(1), point (k) are liable.
5f.By way of derogation from Article 2 of this Regulation, the competent authorities of a Member State 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 the individuals listed under entry numbers 92, 694, 719, 721, 881 and 920 under the heading ‘Persons’ in Annex I, after having determined that:
(a)the funds or economic resources are necessary for the sale and transfer by 30 June 2025 of proprietary rights directly or indirectly owned by one of those individuals in a legal person, entity or body established in the Union; and
(b)the proceeds of such sale and transfer are frozen.
5g.By way of derogation from Article 2, the competent authorities of a Member State may, under such conditions as they deem appropriate, authorise the release of certain frozen funds or economic resources belonging to the entity listed under entry number 333 under the heading ‘Entities’ in Annex I, or the making available of certain funds or economic resources to that entity, after having determined that such funds or economic resources are necessary for the termination by 20 June 2024 of contracts concluded with that entity before 19 December 2023.
5h.By way of derogation from Article 2 of this Regulation, and provided that the funds concerned were frozen as a result of the involvement of a legal person, entity or body listed in Annex I to this Regulation, or of a legal person owned or controlled by a legal person, entity or body listed in that Annex, acting as intermediary bank during a transfer of those funds to the Union from the Russian Federation, from a third country or from the Union, the competent authorities of a Member State may, under such conditions as they deem appropriate, authorise the release of certain frozen funds, after having determined that the transfer of such funds is:
(a)between two natural or legal persons, entities or bodies that are not listed in Annex I to this Regulation;
(b)carried out using accounts at credit institutions that are not listed in Annex I to this Regulation; and
(c)not in breach of Article 2(2) or Article 9 of this Regulation.
This paragraph shall not apply in relation to frozen funds or economic resources held by Central securities depositories within the meaning of Regulation (EU) No 909/2014.
5i.By way of derogation from Article 2 of this Regulation, and provided that the payment concerned was frozen as a result of a transfer to the Union from the Russian Federation, from a third country or from the Union, initiated through or from a legal person, entity or body listed in Annex I to this Regulation, or through or from a legal person owned or controlled by a legal person, entity or body listed in that Annex, the competent authorities of a Member State may, under such conditions as they deem appropriate, authorise the release of that frozen payment, after having determined that the transfer of that payment is:
(a)between two natural or legal persons, entities or bodies that are not listed in Annex I to this Regulation; and
(b)not in breach of Article 2(2) or Article 9 of this Regulation.
This paragraph shall not apply in relation to frozen funds or economic resources held by Central securities depositories within the meaning of Regulation (EU) No 909/2014.The beneficiaries of a transfer as referred to in the first subparagraph of this paragraph shall only be nationals of a Member State, of a country member of the European Economic Area or of Switzerland, or natural persons having a temporary or permanent residence permit in a Member State, in a country member of the European Economic Area or in Switzerland.One authorisation per applicant may be granted under this paragraph.The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under this paragraph within one week of the authorisation.
5j.By way of derogation from Article 2 of this Regulation, the competent authorities of a Member State may, under such conditions as they deem appropriate, authorise the release of cash balances frozen by a central securities depository within the meaning of Regulation (EU) No 909/2014 and attributable to the entity listed under entry number 101 under the heading ‘Entities’ in Annex I to this Regulation or to another entity listed under that heading, after having determined that:
(a)the central securities depository concerned maintains an account or accounts with the entity listed under entry number 101 under the heading ‘Entities’ in Annex I to this Regulation;
(b)the entity listed under entry number 101 under the heading ‘Entities’ in Annex I to this Regulation or another entity listed under that heading maintains an account or accounts with the central securities depository holding the cash balance to be released;
(c)the entity listed under entry number 101 under the heading ‘Entities’ in Annex I to this Regulation has debited an amount from the account or the accounts referred to in point (a) of this paragraph, pursuant to a law, decree, regulation, judicial or administrative decision or any other measure, directly or indirectly attributable to the Russian Federation, without the prior consent of the central securities depository concerned;
(d)the released cash balance is to be used by the central securities depository concerned to meet its legal obligations towards its participants and does not exceed the debited amount referred to in point (c) of this paragraph; and
(e)the released cash balance is not made available in breach of Article 2(2).
5k.By way of derogation from Article 2, the competent authorities of a Member State may authorise the release of certain frozen funds belonging to the entity listed under entry number 639 under the heading ‘Entities’ in Annex I to this Regulation, or the making available of certain economic resources to that entity, under such conditions as they deem appropriate after having determined that such funds and economic resources are strictly necessary to facilitate a significant reduction in the intake of, or reliance on, the import of Russian crude oil and provided that the release of funds or making available of economic resources is completed before 24 October 2026.
5l.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 entity listed under entry number 692 under the heading ‘Entities’ in Annex I to this Regulation, or the making available of certain funds or economic resources to that entity, under such conditions as they deem appropriate and after having determined that such funds or economic resources are strictly necessary for:
(a)the termination by 31 December 2026, of operations, contracts or other agreements concluded with the entity listed under entry number 692 before 23 April 2026 and provided that the release or making available of funds or economic resources is completed by 31 December 2026; or
(b)industry purchases of critical components manufactured by and for corresponding payments to that entity with a view to enabling a transition towards alternative sources of supply provided that the release or making available of funds or economic resources is completed by 16 March 2027.
5m.By way of derogation from Article 2, 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 Annex I, 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 Annex I, 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 Annex I 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 Annex I.
6.The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under this Article within two weeks of the authorisation.
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