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Date: 30-Jan-2024 Category: Not Applicable State: Union Government Country: Europe

Council Decision (CFSP) 2024/422 of 29 January 2024 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine

Issued by Council of the European Union · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • Council Decision (CFSP) 2024/422 amends Decision 2014/512/CFSP, which concerns restrictive measures against Russia due to its actions destabilizing Ukraine.
  • The decision extends the application of the restrictive measures for another six months.

Key Changes

  • Article 9(1) of Decision 2014/512/CFSP is amended to extend the application of the decision until 31 July 2024.
  • The decision was adopted on 29 January 2024 and entered into force on the day following its publication in the Official Journal of the European Union.

Impact Analysis

Financial Institutions

  • Update screening processes to reflect the extension of the sanctions regime.

Businesses

  • Review existing contracts and business relationships to assess the impact of the extended sanctions regime.

Government Agencies

  • Maintain communication channels with businesses and other stakeholders to ensure awareness of the ongoing sanctions regime.

EU Citizens

  • Exercise caution when conducting business or financial transactions involving Russia.

Key Entities Referenced

Council of the European Union: The entity that adopted Decision (CFSP) 2024/422. Decision 2014/512/CFSP: Council Decision concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Russian Federation: The target of the restrictive measures due to its actions destabilising the situation in Ukraine. European Council: Reiterated its condemnation of Russia’s war of aggression against Ukraine in its Conclusions adopted on 14 to 15 December 2023.
Official Source Record View Original Source →
See Full Document Text
Official Journal EN of the European Union L series 2024/422 30.1.2024 COUNCIL DECISION (CFSP) 2024/422 of 29 January 2024 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on European Union, and in particular Article 29 thereof, Having regard to the proposal from the High Representative of the Union for Foreign Affairs and Security Policy, Whereas: (1) On 31 July 2014, the Council adopted Decision 2014/512/CFSP(1). (2) In its Conclusions, adopted on 14 to 15 December 2023, the European Council reiterated its condemnation of Russia’s war of aggression against Ukraine, which constitutes a manifest violation of the UN Charter, and recalled the Union’s unwavering support for Ukraine’s independence, sovereignty and territorial integrity within its internationally recognised borders and its inherent right of self-defence against the Russian aggression. (3) As long as the illegal actions by the Russian Federation continue to violate the prohibition on the use of force, which is a serious breach of obligations under international law, it is appropriate to maintain in force all the measures imposed by the Union and to take additional measures, if necessary. Consequently, Decision 2014/512/CFSP should be renewed for a further six months. (4) Decision 2014/512/CFSP should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 In Decision 2014/512/CFSP, Article 9(1) is replaced by the following: ‘1. This Decision shall apply until 31 July 2024.’. Article 2 This Decision shall enter into force on the day following that of its publication in the Official Journal of the European Union. Done at Brussels, 29 January 2024. For the Council The President H. LAHBIB (1) Council Decision 2014/512/CFSP 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. 13). ELI: http://data.europa.eu/eli/dec/2024/422/oj 1/1

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