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Analysis of the Decision of the National Security and Defense Council of Ukraine dated October 8, 2024

Introductory Provisions

The Decision of the National Security and Defense Council of Ukraine (NSDC) dated October 8, 2024, enacted by Presidential Decree No. 698/2024, pertains to the application of personal special economic and other restrictive measures, i.e., sanctions. This act regulates both individuals and legal entities to which the specified measures will be applied.

Structure of the Decision

1. Support for Proposals from the Security Service of Ukraine: The NSDC supports the proposals submitted by the Security Service of Ukraine regarding the imposition of sanctions.
2. Application of Sanctions: It is specified to which particular individuals the personal special economic and other restrictive measures will be applied:
   • Individuals as per Appendix 1.
   • Legal entities as per Appendix 2.
3. Implementation and Monitoring of Sanctions: The Cabinet of Ministers of Ukraine, in cooperation with the Security Service of Ukraine and the National Bank of Ukraine, is responsible for the implementation and monitoring of the effectiveness of these measures.
4. Informing International Bodies: The Ministry of Foreign Affairs of Ukraine shall inform the relevant bodies of the European Union, the United States of America, and other states about the imposition of sanctions and initiate discussions regarding the introduction of similar restrictive measures.

Appendices to the Decision

Appendix 1

This appendix contains a list of individuals to whom personal special economic and other restrictive measures (sanctions) are applied. Detailed names and information about these individuals are not included in the provided text but are specified in the official appendix to the decision.

Appendix 2

This appendix lists the legal entities on which personal special economic and other restrictive measures (sanctions) will be imposed. Similarly to Appendix 1, the specific names of companies or organizations are provided in the official document.

Mechanisms for Implementing Sanctions

For the effective implementation of sanctions, the NSDC outlines the following mechanisms:

• Cooperation of Government Authorities: The Cabinet of Ministers, the Security Service of Ukraine, and the National Bank of Ukraine coordinate their actions to ensure proper implementation of sanctions.
• Monitoring Effectiveness: Ongoing oversight of compliance with sanctions and their impact on targeted individuals to adjust measures if necessary.
• International Cooperation: The Ministry of Foreign Affairs of Ukraine facilitates dialogue with international partners to align and potentially extend sanctions globally.

Entry into Force

The decision comes into effect upon the signing of the Presidential Decree of Ukraine dated October 8, 2024, No. 698/2024. This means that all specified measures will start to take effect shortly after the official announcement and publication of the document.

Responsibility for Implementation

The Secretary of the National Security and Defense Council of Ukraine, O. Lytvynenko, signed the decision, confirming its authenticity and obliging the relevant authorities to execute the established measures.[:]