#52026XG03316EU notice on asset reporting duties for individuals under Ukraine-related sanctions
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This notice reminds individuals listed under the EU’s Ukraine-related sanctions regime that they must report any funds or economic resources they own, hold, or control in an EU Member State. The report must go to the relevant national authority in the country where the assets are located. Listed individuals must also cooperate with checks by national authorities. If they fail to report or cooperate, the EU will treat that failure as an attempt to get around the asset-freeze rules.
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Key Changes
- Reminds listed individuals that they must report funds and economic resources located in EU Member States
- Requires cooperation with national authorities during verification checks
- Treats failure to report or cooperate as circumvention of EU asset-freeze measures
Obligations
What this law requires
Natural persons listed in Annex I to Regulation (EU) No 269/2014 must report any funds or economic resources within the jurisdiction of an EU Member State that belong to, are owned, held, or controlled by them to the competent authority of the Member State where the assets are located.
Listed natural persons must cooperate with the relevant national competent authority in any verification of reported funds or economic resources.
Listed natural persons must submit the required asset information through the website of the competent authority of the relevant EU Member State, as indicated in Annex II to Regulation (EU) No 269/2014.