Article 1
Regulation (EU) No 269/2014 is amended as follows: (1) Article 6b is amended as follows: (a) the following paragraph is inserted: ‘5ea. By way of derogation from Article 2, the competent authorities of a Member State may authorise the release of certain frozen funds or economic resources belonging to natural or legal persons, entities or bodies listed in Annex I pursuant to Article 3(1), point (k), or the making available of certain funds or economic resources to those natural or legal persons, entities or bodies under such conditions as the competent authorities deem appropriate and after having determined that: (a) such release or making available of funds or economic resources is necessary to allow a payment due by those natural or legal persons, entities or bodies listed in Annex I pursuant to Article 3(1), point (k) or by an insurance provider as a result of a risk for which those natural or legal persons, entities or bodies listed in Annex I pursuant to Article 3(1), point (k) are liable, to be made to an entity established in the Union, in a country member of the European Economic Area, in Switzerland or in a partner country as listed in Annex VIII to Regulation (EU) No 833/2014, or to a national or resident of a Member State, of a country member of the European Economic Area, of Switzerland or of a partner country as listed in Annex VIII to Regulation (EU) No 833/2014 and not listed in Annex I; and (b) such payment constitutes the indemnity or benefit provided further to the materialisation of a risk for which those natural or legal persons, entities or bodies listed in Annex I pursuant to Article 3(1), point (k) are liable.’ ; (b) the following paragraph is inserted: ‘5l. By way of derogation from Article 2, the competent authorities of the Member States may, under such conditions as they deem appropriate, authorise: (a) the disposal or transfer of shares, participations or other equity instruments by a credit institution established in the Union to an entity established in the Union that is, prior to such transfer, minority-owned directly or indirectly, individually or jointly, by one or both of the individuals listed under entries number 674 and 675 under the heading “Persons” in Annex I, where the transfer would result in an increase of the shareholdings of one or both those individuals in that entity after having determined that such disposal or transfer is carried out on the basis of a put option right contractually agreed and duly exercised prior to 28 February 2022, but not yet effected as at the date of entry into force of this derogation, provided that any shares or participations of those individuals, including those due to an increase of their shareholdings following the transfer, are frozen; (b) the release of certain frozen funds or economic resources, or the making available of certain funds or economic resources belonging to, owned, held or controlled, directly or indirectly, individually or jointly, by one or both of the individuals listed under entries 674 and 675 under the heading “Persons” in Annex I, or by any entity directly or indirectly owned, controlled or participated by those individuals, or funds or economic resources owned, held or controlled by such individuals in entities or credit institutions listed (under the entries 198 or 270) under the heading “Entities” in Annex I after having determined that: (i) such release or making available of funds or economic resources is carried out for the sole purpose of enabling the counterparty to discharge its payment obligation owed to a credit institution established in the Union pursuant to a put option right contractually agreed and duly exercised prior to 28 February 2022, but not yet effected as at the date of entry into force of this derogation; (ii) the funds or economic resources released or made available are transferred directly to the credit institution established in the Union in satisfaction of such contractual obligation; and (iii) the credit institution established in the Union to which the consideration is paid is not a person, entity or body listed in Annex I.’ ; (2) the following Articles are inserted: ‘Article 6g 1. Article 2(1) shall not apply to funds or economic resources of JSC Russian Railways which are necessary for the transport by rail of goods or persons, or the provision of related railway infrastructure, by JSC Russian Railways between Russia and the Union, in transit through the Union, between the Kaliningrad Oblast and Russia, or within Russia, or to funds or economic resources of JSC Russian Railways necessary for the provision of services related to the operation, maintenance or security of such rail transport. 2. Article 2(2) shall not apply to the making available of funds or economic resources to JSC Russian Railways which are necessary for the transport by rail of goods or persons, or the provision of related railway infrastructure, by JSC Russian Railways between Russia and the Union, in transit through the Union, between the Kaliningrad Oblast and Russia, or within Russia, or to the making available of funds or economic resources to JSC Russian Railways necessary for the provision of services related to the operation, maintenance or security of such rail transport. Article 6h 1. Article 2 shall not apply to funds or economic resources belonging to, owned, held or controlled by the entities listed under entry numbers 975, 976 and 977 under the heading “Entities” in Annex I or to the making available of funds or economic resources, directly or indirectly, to or for the benefit of those entities, provided that those funds or economic resources are strictly necessary with regard to the Paks II project for activities necessary for the establishment, operation, maintenance, fuel supply and retreatment and safety of civil nuclear capabilities, and the continuation of design, construction and commissioning required for the completion of civil nuclear facilities in that project. 2. Entities making funds or economic resources available to the entities referred to in paragraph 1 shall notify the competent authority of Hungary of any activity pursuant to which funds or economic resources are used or made available within two weeks of the start of that activity. Hungary shall inform the other Member States and the Commission of any information received under this Article within two weeks of receipt of that information.’ ; (3) in Article 11a, paragraph 1 is replaced by the following: ‘1. Any person referred to in Article 17, point (c) or (d), shall be entitled to recover, in judicial proceedings before the competent courts of a Member State, any direct or indirect damages, including legal costs, incurred by that person or by a legal person, entity or body that the person referred to in Article 17, point (d), owns or controls, as a consequence of claims lodged with courts in third countries by persons, entities and bodies referred to in Article 11(1), point (a), (b) or (c), in connection with any contract or transaction the performance of which has been affected, directly or indirectly, in whole or in part, by the measures imposed under this Regulation, provided that the person concerned does not have effective access to the remedies under the relevant jurisdiction. Such damages may be recovered from the persons, entities or bodies referred to in Article 11(1), point (a), (b) and (c), that lodged the claims with the courts in the third country, or from persons, entities or bodies that own or control those entities or bodies.’ ; (4) the following Article is inserted: ‘Article 11c No injunction, order, relief, judgment or other court or administrative decision pursuant to or derived from Article 248.1 or Article 248.2 of the Arbitration Procedure Code of the Russian Federation or equivalent Russian legislation, or given by a Russian court or authority pursuant to any other Russian law, holding a person referred to in Article 17, points (c) or (d), liable, whether in contract or in tort or on any other legal basis, or giving effect, directly or indirectly, to any claim, right or alleged obligation against such person, including in the context of insolvency, bankruptcy, restructuring or analogous proceedings, in connection with any contract or transaction the performance of which has been affected, directly or indirectly, in whole or in part, by the measures imposed under this Regulation, shall be recognised, given effect or enforced in a Member State.’.