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Analysis of the Decision of the National Security and Defense Council of Ukraine dated October 8, 2024
Introduction
On October 8, 2024, the National Security and Defense Council of Ukraine adopted a decision regarding the imposition of personal special economic and other restrictive measures (sanctions) against legal entities. This decision was formally enacted by the Decree of the President of Ukraine No. 697/2024.
Key Provisions of the Decision
1. Support for the Proposals of the Security Service of Ukraine
The first point of the decision expresses the support of the National Security and Defense Council of Ukraine for the proposals submitted by the Security Service of Ukraine regarding the imposition of personal special economic and other restrictive measures. This indicates that the Council endorses the SBU’s initiatives to sanction specific individuals or entities that may pose a threat to national security.
2. Imposition of Sanctions on Legal Entities
The second point of the decision specifies the imposition of sanctions on legal entities in accordance with the appendix to this document. This means that certain companies or organizations have been subjected to sanctions, which may include restrictions on access to financial resources, a ban on cooperation with Ukrainian enterprises, limitations on activities within the territory of Ukraine, and so forth.
3. Implementation and Monitoring of Sanctions
The third point delegates the functions of implementing and monitoring the effectiveness of the imposed sanctions to the Cabinet of Ministers of Ukraine with the support of the Security Service of Ukraine and the National Bank of Ukraine. This ensures oversight of compliance with the sanctions and assessment of their impact on the targeted subjects and the overall economic situation.
4. International Notification and Cooperation
The fourth point instructs the Ministry of Foreign Affairs of Ukraine to inform the competent authorities of the European Union, the United States of America, and other countries about the imposition of sanctions. Furthermore, the ministry is to initiate similar restrictive measures in these countries, thereby facilitating international coordination of sanctions pressure.
Appendix to the Decision
The appendix to the decision contains a list of legal entities subject to personal special economic and other restrictive measures (sanctions). This list identifies specific subjects upon whom sanctions are imposed and details the conditions of their application.
Conclusion
The decision adopted by the National Security and Defense Council of Ukraine is an important step in the implementation of the state’s sanctions policy. It provides support for the proposals of the Security Service, outlines specific measures regarding legal entities, ensures oversight of their enforcement, and promotes international cooperation in the spheres of security and economy.[:]
