Article 1
Open ↗In Regulation (EU) No 401/2013, the following article is inserted: ‘Article 4db By way of derogation from Article 4a, the competent authorities of a Member State may authorise the release of certain frozen funds or economic resources belonging to the entity listed in entry 10 in Annex IV, or the making available of certain funds or economic resources to that entity, under such conditions as the competent authorities deem appropriate, after having determined that such funds or economic resources are necessary for: (a) tasks related to the decommissioning of oil and gas wells in accordance with international standards, such as waste disposal, site remediation activities required for safety and environmental restoration, the provision of related technical assistance, and the payment of related taxes and duties, as well as salaries and social benefits to employees; or (b) the transfer before 31 July 2022 of shares or interests necessary for the termination of contracts concluded with the entity listed in entry 10 in Annex IV before 21 February 2022.’.