OUG on application of sanction measures in context of conflict in Ukraine, approved by Government

The Government adopted on Thursday, by an emergency ordinance amending Government Ordinance no. 202/2008 on the implementation of international sanctions, a series of measures aimed at ensuring the continuation of the European Union's sanctions regime, applied in the context of the Russian military aggression in Ukraine, without prejudice to the activity of Romanian companies and, implicitly, the jobs in these companies.

Thus, according to a press release sent by the Executive, the possibility of establishing a control mechanism is introduced to provide guarantees that the legal person over which the sanctions are applied cannot have access to funds or economic resources of the owned or controlled entity.

"Based on this control mechanism, some derogations may be made, in the sense of allowing operations such as accessing funds necessary for the continuation of economic activity, payment of employees' salaries, payment of utilities, services, taxes, contributions, commercial costs, suppliers related to production, purchase and sale, etc.," the release reads.