Private Property

SERVICES RELATED TO REAL ESTATE IN CRIMEA / SEVASTOPOL

 

PROHIBITION

It shall be prohibited to: (a) acquire any new or extend any existing participation in ownership of real estate located in Crimea or Sevastopol; (…); (e) provide investment services directly related to the activities referred to in points (a)(…).

EXCEPTIONS

The prohibitions and restrictions (...) do not apply to the conduct of legitimate business with entities outside Crimea or Sevastopol where the related investments are not destined to entities in Crimea or Sevastopol.
The prohibitions (...) shall be without prejudice to the execution of an obligation arising from a contract concluded before 20 December 2014, or ancillary contracts necessary for the execution of such a contract, provided that the competent authority has been informed at least five working days in advance
The competent authorities may grant, under such terms and conditions as they deem appropriate, an authorisation in relation to the activities referred to in (…) provided that they are:
(a) necessary for official purposes of consular missions or international organisations enjoying immunities in accordance with international law located in Crimea or Sevastopol;
(b) related to projects exclusively in support of hospitals, or other public health institutions providing medical services or civilian education establishments located in Crimea or Sevastopol; or
(c) appliances or equipment for medical use.
The competent authorities may also grant, under such terms and conditions as they deem appropriate, an authorisation in relation to the activities referred to in (...), provided that the transaction is for the purpose of the maintenance in order to ensure safety of existing infrastructure.
The competent authorities may also grant, under such terms and conditions as they deem appropriate, an authorisation in relation to the activities referred to in (…), where (...) the carrying out of those activities is necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety, including the safety of existing infrastructure, or the environment. In duly justified cases of emergency, the sale, supply, transfer or export may proceed without prior authorisation, provided that the exporter notifies the competent authority within five working days after the sale, supply, transfer or export has taken place, providing detail about the relevant justification for the sale, supply, transfer or export without prior authorisation.

LICENCE MODALITIES. NOTIFICATION TO AUTHORITIES.

The Commission and the Members States shall inform each other of the measures taken (...) and share any other relevant information at their disposal.

SERVICES CONCERNED

Acquisition of any new or extend any existing participation in ownership of real estate located in Crimea or Sevastopol
Provision of investment services directly related to the activities referred to above.

LEGAL SOURCE

Council Regulation (EU) 692/2014 of 23 June 2014 concerning restrictive measures in response to the illegal annexation of Crimea and Sevastopol. Articles 2a, 2e
The EU Regulation is directly applicable in all EU Member States.
The EU Regulation is based on Council Decision 2014/386/CFSP of 23 June 2014 concerning restrictive measures in response to the illegal annexation of Crimea and Sevastopol. Articles 4a, 4d