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1b. It shall be prohibited as from 16 January 2023 to hold any posts in the governing bodies of:

(a) a legal person, entity or body established in Russia, which is publicly controlled or with over 50 % public ownership, or in which Russia, its Government or Central Bank has the right to participate in profits or with which Russia, its Government or Central Bank has other substantial economic relationship;

(b) a legal person, entity or body established in Russia whose proprietary rights are directly or indirectly owned for more than 50 % by an entity referred to in point (a) of this paragraph; or (c) a legal person, entity or body established in Russia and acting on behalf or at the direction of an entity referred to in point (a) or (b) of this paragraph. This prohibition shall not apply to any legal person, entity or body referred to in paragraph 1, for which paragraph 1a applies.

1c. By way of derogation from paragraph 1b, the competent authorities may authorise the holding of a post in the governing body of a legal person, entity or body referred to in paragraph 1b, after having determined that the legal person, entity or body is:

(a) a joint venture or similar legal arrangement involving a legal person, entity or body referred to in paragraph 1b and concluded by a legal person, entity or body which is incorporated or constituted under the law of a Member State before 17 December 2022; or (b) a legal person, entity or body referred to in paragraph 1b which was established in Russia before 17 December 2022 and which is 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.

1d. By way of derogation from paragraph 1b, the competent authorities may authorise the holding of a post in the governing body of a legal person, entity or body referred to in paragraph 1b, after having determined that the holding of such a post is necessary for ensuring critical energy supply.

1e. By way of derogation from paragraph 1b, the competent authorities may authorise the holding of a post in the governing body of a legal person, entity or body referred to in paragraph 1b, after having determined that the legal person, entity or body is involved in the transit through Russia of oil originating in a third country and that the holding of such a post is intended for operations which are not prohibited under Articles 3m and 3n.

————— 2a. The prohibition in paragraph 1 shall not apply to the reception of payments due by the legal persons, entities or bodies referred to in Part A of Annex XIX pursuant to contracts performed before 15 May 2022.

————— 2c. The prohibition in paragraph 1 shall not apply to the reception of payments due by the legal persons, entities or bodies referred to in Part B of Annex XIX pursuant to contracts performed before 8 January 2023.

————— 2e. The prohibition in paragraph 1 shall not apply to the reception of payments due by the legal persons, entities or bodies referred to in Part C of Annex XIX pursuant to contracts performed before 18 March 2023.

2f. The prohibition in paragraph 1 shall not apply with regard to entities established in the Union and acting on behalf of or at the direction of entities referred to in paragraph 1, point (a) or (b), provided that:

(a) competent authorities have imposed a public trusteeship or similar public firewall measure on such an entity, or;

(b) a similar firewall measure is authorised by competent authorities in order to ensure their continued functioning and compliance with restrictive measures.

3. Unless otherwise prohibited, the prohibition in paragraph 1 shall not apply to: ◄ (a) transactions which are strictly necessary for the direct or indirect purchase, import or transport of natural gas, titanium, aluminium, copper, nickel, palladium and iron ore from or through Russia into the Union, a country member of the European Economic Area, Switzerland, or the Western Balkans;

(aa) unless prohibited under Article 3m or 3n, transactions which are strictly necessary for the direct or indirect purchase, import or transport of oil, including refined petroleum products, from or through Russia;

(b) transactions related to energy projects outside Russia in which a legal person, entity or body listed in Annex XIX is a minority shareholder;

————— (d) transactions, including sales, which are strictly necessary for the wind-down, by 31 December 2025, of a joint venture or similar legal arrangement concluded before 16 March 2022, involving a legal person, entity or body referred to in paragraph 1;

(e) transactions related to the provision of electronic communication services, data center services, and the provision of services and equipment necessary for their operation, maintenance, security, including the provision of firewalls, and call center services, to a legal person, entity or body listed in Annex XIX;

(f) transactions which are necessary for the purchase, import or transport of pharmaceutical, medical, agricultural and food products, including wheat and fertilisers whose import, purchase and transport is allowed under this Regulation;

(g) transactions which are strictly necessary to ensure access to judicial, administrative or arbitral proceedings in a Member State, as well as for the recognition or enforcement of a judgment or an arbitration award rendered in a Member State and if such transactions are consistent with the objectives of this Regulation and Regulation (EU) No 269/2014;

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3a. By way of derogation from paragraph 1, the competent authorities may authorise, under such conditions as they deem appropriate, transactions which are strictly necessary for the divestment and withdrawal by 31 December 2025, by the entities referred to in paragraph 1 or their subsidiaries in the Union from a legal person, entity or body established in the Union.

4. By way of derogation from the procedure laid down in Article 7(3) of Regulation (EC) No 391/2009 of the European Parliament and of the Council () and in Article 21(3) of Directive (EU) 2016/1629 of the European Parliament and of the Council (), the Union's recognition of the Russian Maritime Register of Shipping under Regulation (EC) No 391/2009 and Directive (EU) 2016/1629 is withdrawn.

5. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under paragraphs 1c, 1d, 1e and 3a within two weeks of the authorisation.

1. It shall be prohibited to directly or indirectly engage in any transaction with:

(a) a legal person, entity or body established in Russia, which is publically controlled or with over 50 % public ownership or in which Russia, its Government or Central Bank has the right to participate in profits or with which Russia, its Government or Central Bank has other substantial economic relationship, as listed in Annex XIX;

(b) a legal person, entity or body established outside the Union whose proprietary rights are directly or indirectly owned for more than 50 % by an entity listed in Annex XIX; or (c) a legal person, entity or body acting on behalf or at the direction of an entity referred to in point (a) or (b) of this paragraph.

1a. It shall be prohibited as from 22 October 2022 to hold any posts in the governing bodies of any legal person, entity or body referred to in paragraph 1.