The Sanctions Monitoring Board refers to Article 5r of Council Regulation 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine.
Article 5r of Council Regulation 833/2014 sets out a reporting obligation which applies to:
- Legal persons, entities and bodies established in the Union whose proprietary rights are directly or indirectly owned for more than 40 % by a legal person, entity or body established in Russia; a Russian national; or a natural person residing in Russia and;
- Credit and financial institutions.