EU-Ukraine financial sanctions cover additional 19 individuals and 9 entities


In view of the continued gravity of the situation on the ground in Ukraine, the Council of the European Union has decided to add certain individuals and entities to the list of natural and legal persons, entities and bodies as set out in Annex I to Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. The specific details and reasoning for listing the concerned individuals and entities can be found in the Annex to Council Implementing Regulation (EU) 2015/240 of 9 February 2015.

In specific, 19 individuals and 9 entities have been added to the consolidated list and are now subject to an asset freeze. Moreover, no funds or economic resources must be made available, directly or indirectly, for the benefit of the concerned individuals and entities or to any individuals or entities associated with them unless such has been authorised by the competent authorities of the EU Member States.

The restrictive measures as set forth in Regulation (EU) No 269/2014 apply to the newly added 19 individuals and 9 entities as of 16 February 2015. In practice, this entails that any accounts, assets, funds or economic resources being held by or for the listed persons should be frozen and any action in dealing with such funds or assets or even making them available to such persons should be refrained from unless such has been legally licensed. Non-compliance or circumvention of the restrictive measures set by the EU may lead to financial penalties and/or, in some EU Member States, be regarded as a criminal offence.