ELI: http://data.europa.eu/eli/dec/2023/2874/oj 8/15
shall, as of 1 May 2024, report to the competent authority of the Member State where they are established, within two
weeks of the end of each quarter, any transfer of funds exceeding 100 000 EUR out of the Union that they made
during that quarter, directly or indirectly, in one or several operations.
2. Notwithstanding the applicable rules concerning reporting, confidentiality and professional secrecy, credit and
financial institutions shall, as of 1 July 2024, report to the competent authority of the Member State where they are
located, within two weeks of the end of each semester, information on all transfers of funds out of the Union of a
cumulative amount, over that semester, exceeding 100 000 EUR that they initiated, directly or indirectly, for the legal
persons, entities and bodies referred to in paragraph 1.
3. Member States shall assess the information received in accordance with paragraphs 1 and 2 to identify
transactions, entities and business sectors that indicate a serious risk of breaches or circumvention of, or use of funds
for purposes incompatible with, this Decision or Council Decisions 2014/145/CFSP (
1
)*, 2014/386/CFSP (
2
)*,
2014/512/CFSP, or (CFSP) 2022/266 (
3
)*, or Council Regulations (EU) No 269/2014 (
4
)*, (EU) No 833/2014 (
5
)*,
(EU) No 692/2014 (
6
)* or (EU) 2022/263 (
7
)* and shall regularly inform each other and the Commission of their
findings.
4. Based on the information received from the Member States under paragraph 3, the Commission shall review the
functioning of the measures provided for in this Article no later than 20 December 2024.
_____________
(
1
)* 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 (OJ L 78,
17.3.2014, p. 16).
(
2
)* Council Decision 2014/386/CFSP of 23 June 2014 concerning restrictive measures in response to the illegal
annexation of Crimea and Sevastopol (OJ L 183, 24.6.2014, p. 70).
(
3
)* Council Decision (CFSP) 2022/266 of 23 February 2022 concerning restrictive measures in response to the illegal
recognition, occupation or annexation by the Russian Federation of certain non-government controlled areas of
Ukraine (OJ L 42 I, 23.2.2022, p. 109).
(
4
)* Council Regulation (EU) No 269/2014 of 17 March 2014 concerning restrictive measures in respect of actions
undermining or threatening the territorial integrity, sovereignty and independence of Ukraine (OJ L 78,
17.3.2014, p. 6).
(
5
)* Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia's actions
destabilising the situation in Ukraine (OJ L 229, 31.7.2014, p. 1).
(
6
)* Council Regulation (EU) No 692/2014 of 23 June 2014 concerning restrictive measures in response to the illegal
annexation of Crimea and Sevastopol (OJ L 183, 24.6.2014, p. 9).
(
7
)* Council Regulation (EU) 2022/263 of 23 February 2022 concerning restrictive measures in response to the illegal
recognition, occupation or annexation by the Russian Federation of certain non-government controlled areas of
Ukraine (OJ L 42 I, 23.2.2022, p. 77).’;
(10) in Article 3(4), point (c) is replaced by the following:
‘(c) intended for the operation, maintenance, fuel retreatment and safety of civil nuclear capabilities, such as the Paks
II project, as well as civil nuclear cooperation, in particular in the field of research and development;’;
(11) in Article 3a(4), point (c ) is replaced by the following:
‘(c) intended for the operation, maintenance, fuel retreatment and safety of civil nuclear capabilities, such as the Paks
II project, as well as civil nuclear cooperation, in particular in the field of research and development;’;
(12) in Article 4, paragraphs 4 and 5 are replaced by the following:
‘4. The prohibitions in paragraph 2 shall not apply until 20 June 2024 to the provision of insurance or reinsurance
to any legal person, entity or body that is incorporated or constituted under the law of a Member State with regard to
its activities outside the energy sector in Russia.
OJ L, 18.12.2023
EN