EUROPEAN COMMISSION

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)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.

(2)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.

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

(4)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.

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 Ukraine 1 ,

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)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.

(2)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.

(3)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:

Article 1

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

The following Article is inserted:

‘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 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]. ’

Article 2

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

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

Done at Brussels,

(1)    OJ L 078, 17.3.2014, p. 16.