The European Commission issued an opinion on Monday 22 June on the application of Regulation (269/2014), which imposes sanctions on persons whose actions threaten the territorial integrity and sovereignty of Ukraine.
Several Member States’ competent authorities asked the Commission whether the sanctions they are responsible for implementing apply to a person having a management role in a non-listed and non-European legal entity.
According to the EU institution, if the designated person effectively exercises control over the entity in question, then that entity’s assets should be frozen. This entity may have the freeze on some or all of the assets lifted if it demonstrates that the assets are not controlled by the listed person.
In addition, making payments to any bank account that belongs to the entity in question is prohibited, unless authorised by the competent authorities in accordance with the derogations provided for in the EU Regulation or if it is demonstrated that the funds will not be made available to the listed person. Making payments from the entity’s frozen bank accounts is also prohibited, unless authorised by national authorities in accordance with derogations provided for under EU rules.
More info at: https://bit.ly/3fNbzpI (Original version in French by Mathieu Bion)