Ukraine
On 13 April the sanctions regime was changed in response to actions by Russia that destabilise the situation in Ukraine. The restrictive measures published in the European Official Journal concern:
- Council Regulation (EU) 2022/625 of 13 April 2022 amending Regulation (EU) 269/2014 concerning restrictive measures to actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. Click here to read it in the Official Journal of the European Union.
- Council Regulation (EU) 2022/626 of 13 April amending Regulation (EU) 2022/263 concerning restrictive measures in response to the recognition of the non-government controlled areas of the Donetsk and Luhansk oblasts of Ukraine and the ordering of Russian armed forces into those areas. Click here to read it in the Official Journal of the European Union.
- Council Decision (CFSP) 2022/627 of 13 April 2022 amending Decision 2014/145/CFSP concerning restrictive measures to actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. Click here to read it in the Official Journal of the European Union.
- Council Decision (CFSP) 2022/628 of 13 April 2022 amending Council Decision (CFSP) 2022/266 concerning restrictive measures in response to the recognition of the non-government-controlled areas of the Donetsk and Luhansk oblasts of Ukraine, and the ordering of Russian armed forces into those areas Click here to read it in the Official Journal of the European Union.
What institutions supervised by DNB should do
- Check whether this regulation applies (for example, to your customers, members or investments made).
- If this regulation applies, immediately follow up its orders and prohibitions: freeze the funds and/or economic resources and prevent the funds and/or economic resources from being made available, whether directly or indirectly. Prevent the provision of prohibited financial services.
- If you find that the identity of a business relation matches that of a person or entity mentioned in the sanctions regulations (a “hit”), you must notify us immediately, using the prescribed notification form. Please email the form to us at sancties@dnb.nl. You can download the report form from this page: Getting around in sanctions regulations (dnb.nl).
- If DNB has any questions about your notification, you should answer them immediately.
- In certain cases, a “hit” can be regarded as an unusual transaction within the meaning of the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financiering van terrorisme – Wwft). If so, report this transaction to FIU-the Netherlands.
- This is an additional news service. Institutions retain the responsibility to stay abreast of and comply with sanctions legislation in a timely and accurate manner.
If you have any questions, ask the appropriate authority. More information is available on the Open Book on Supervision pages on our website.
What institutions supervised by AFM should do
- Check whether this regulation applies (for example, to your customers, to counterparties involved in a financial transaction or product, or to the financial services you provide).
- If this regulation applies, immediately follow up its orders and prohibitions; freeze the funds and/or economic resources and prevent the funds and/or economic resources from being made available, whether directly or indirectly, and refrain from providing prohibited financial services.
- Report any hits immediately by completing the form and sending it to the AFM by email at meldingsanctiewet@afm.nl. You can read the instructions on the AFM's website.
- If the AFM has any questions about your notification, you should answer them immediately. In certain cases, a 'hit' can be regarded as an unusual transaction within the meaning of the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financiering van terrorisme – Wwft). If so, report this transaction to FIU-the Netherlands.
- In certain cases, a hit can also be an incident in the sense of Section 1 of the Decree on Business Conduct Supervision of Financial Enterprises (Besluit Gedragstoezicht financiële ondernemingen – BGfo). Check whether this is the case. If so, report the hit as an incident to the AFM.
