regulation

Council Regulation (EU) 2023/2694 of 27 November 2023 amending certain Council Regulations concerning restrictive measures in order to insert provisions on humanitarian exceptions

ID 25963

Council Regulation (EU) 2023/2694 as regards the insertion of provisions in various sanction regulations to enable humanitarian aid was published in the Official Journal (OJ) of the EU. Specifically, the regulation modifies those regulations noted under „Other regulatory spec. affected“ – all imposing asset freezing and other restrictive measures in view of human rights abuses, violence against the own population, the threatening of democracy, or other similar issues – to include provisions that disapply terms and regulations on the freezing of funds or the making available of funds so long as these funds are used for purposes of providing humanitarian aid and / or supporting basic human needs by certain organizations. Such organizations include:
– the United Nations (UN) or any of its related organizations and
– nongovernmental organizations (NGOs) or international organizations supporting the work of the UN as described in the Regulation.

Other Features
asset freezing
banks
financial resources
payment services
permissions
sanctions
Date Published: 2023-11-28
Date Taking Effect: 2023-11-29
Regulatory Framework: EU Sanctions
Regulatory Type: regulation
Asset Management
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