Ukraine
On 23 February 2022, the sanction regime concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine was changed. Click here for the implementing regulation and click here for the decision.
On 23 February 2022, the sanction regime concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine was changed. Click here to read the relevant legislative texts in the Official Journal of the European Union. The restrictive measures published in the European Official Journal concern:
- Council Regulation (EU) 2022/259 of 23 February 2022 amending Regulation (EU) 269/2014 concerning restrictive measures to actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine.
- Council Implementing Regulation (EU) 2022/260 of 23 February 2022 implementing Regulation (EU) 269/2014 concerning restrictive measures to actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine;
- Council Implementing Regulation (EU) 2022/261 of 23 February 2022 implementing Regulation (EU) 269/2014 concerning restrictive measures to actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine;
- Council Regulation (EU) 2022/262 of 23 February 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine;
- Council Regulation (EU) 2022/263 of 23 February 2022 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;
- Council Decision (CFSP) 2022/264 of 23 February 2022 amending Decision 2014/512/CFSP concerning restrictive measures in response to actions by Russia destabilising the situation in Ukraine;
- Council Decision (CFSP) 2022/265 of 23 February 2022 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine;
- Council Decision (CFSP) 2022/266 of 23 February 2022 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; and
- Council Decision (CFSP) 2022/267 of 23 February 2022 amending Decision 2014/145/CFSP concerning restrictive measures to actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine.
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.
- Report any asset freeze immediately to DNB.
- 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. 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). If so, report the hit as an incident to the AFM.
