Article 2u
1. It shall be prohibited to accept any deposits from Belarusian nationals or natural persons residing in Belarus, or legal persons, entities or bodies established in Belarus or a legal person, entity or body established outside the Union and whose proprietary rights are directly or indirectly owned for more than 50 % by Belarusian nationals or natural persons residing in Belarus, if the total value of deposits of the natural or legal person, entity or body per credit institution exceeds EUR 100 000 . 1a. It shall be prohibited to provide, directly or indirectly, the following services to Belarusian nationals or natural persons residing in Belarus, or to legal persons, entities or bodies established in Belarus: (a) crypto-asset services, as defined in Regulation (EU) 2023/1114 of the European Parliament and of the Council ( 4 ); (b) issuing of payment instruments, acquiring of payment transactions, or payment initiation services, as defined in Directive (EU) 2015/2366 of the European Parliament and of the Council ( 5 ); (c) issuing of electronic money, as defined in Directive 2009/110/EC of the European Parliament and of the Council ( 6 ). 1b. It shall be prohibited, as from 26 March 2025, to allow Belarusian nationals or natural persons residing in Belarus to directly or indirectly own or control, or to hold any posts in the governing bodies of, a legal person, entity or body which is incorporated or constituted under the law of a Member State and is providing crypto-asset wallet, account or custody services. As from 25 August 2026, that prohibition shall also apply to the case of a legal person, entity or body which is incorporated or constituted under the law of a Member State and is providing any other crypto-asset services, as defined in Regulation (EU) 2023/1114. 2. Paragraphs 1, 1a and 1b shall not apply to nationals of a Member State, of a country member of the European Economic Area or of Switzerland, or to natural persons having a temporary or permanent residence permit in a Member State, in a country member of the European Economic Area or in Switzerland. ————— 4. By way of derogation from paragraphs (1) and (1a), the competent authorities may authorise the acceptance of such a deposit or the provision of such a service, under such conditions as they deem appropriate, after having determined that the acceptance of such a deposit or the provision of such a service is: (a) necessary to satisfy the basic needs of natural or legal persons, entities or bodies referred to in paragraph 1 and their dependent family members, including payments for food, rent or mortgage, medicines and medical treatment, taxes, insurance premiums, and public utility charges; (b) intended exclusively for the payment of reasonable professional fees or the reimbursement of incurred expenses associated with the provision of legal services; (c) necessary for extraordinary expenses, provided that the relevant competent authority has notified the competent authorities of the other Member States and the Commission of the grounds on which it considers that a specific authorisation should be granted, at least two weeks prior to the authorisation; (d) necessary for official purposes of a diplomatic mission or consular post or international organisation; (e) intended exclusively for the payment of fees or service charges for the routine holding or maintenance of frozen funds or economic resources; or (f) necessary for non-prohibited cross-border trade in goods and services between the Union and Belarus. 4a. The prohibition in paragraph 1a, points (b) and (c), shall not apply to the provision of personalised security credentials necessary to access an account with a credit institution or an electronic money institution established in a Member State or a country as listed in Annex IVa. 4b. By way of derogation from paragraph 1a, points (b) and (c), the competent authorities may authorise the provision of such a service, under such conditions as they deem appropriate, after having determined that to do so is necessary for the exclusive use of legal persons, entities or bodies established in Belarus that are owned by, or solely or jointly controlled by, a legal person, entity or body which is incorporated or constituted under the law of a Member State or a country as listed in Annex IVa. 4c. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under paragraph 4, point (a), (b), (d), (e) or (f), and paragraph 4b within two weeks of the authorisation. 5. By way of derogation from Article 2u(1) and (1a), the competent authorities may authorise the acceptance of such a deposit or provision of such a service, under such conditions as they deem appropriate, after having determined that the acceptance of such a deposit or provision of such a service is necessary for: (a) necessary for humanitarian purposes, such as delivering or facilitating the delivery of assistance, including medical supplies, food, or the transfer of humanitarian workers and related assistance or for evacuations; or (b) necessary for civil society activities that directly promote democracy, human rights or the rule of law in Belarus. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under this paragraph within two weeks of the authorisation.