****<\/p>\n
**1. Essence of the Act**
\nThis document is the Decision of the National Security and Defense Council of Ukraine dated May 29, 2026, which was put into effect on the same day by Decree of the President of Ukraine No. 447\/2026. The essence of the act lies in the imposition of personal special economic and other restrictive measures (sanctions) against a designated list of natural and legal persons. The Decision was adopted on the basis of proposals of the Cabinet of Ministers of Ukraine in order to protect the national interests and security of the state. The implementation of the sanctions regime and monitoring of its execution are entrusted to key state institutions and special services.<\/p>\n
**2. Structure of the Act, Main Provisions and Amendments**
\nThe document has a clear and concise structure consisting of a preamble and four paragraphs:
\n* **Paragraph 1** records support for the proposals of the Cabinet of Ministers of Ukraine (Order No. 453-r dated May 15, 2026) regarding the application of sanctions.
\n* **Paragraph 2** directly imposes sanctions against natural persons (pursuant to Annex 1) and legal persons (pursuant to Annex 2).
\n* **Paragraph 3** designates the entities responsible for the implementation and monitoring of the effectiveness of the sanctions.
\n* **Paragraph 4** obligates the Ministry of Foreign Affairs of Ukraine to inform international partners (the EU, the USA, etc.) about these restrictions.<\/p>\n
Compared to previous decisions of this type, this act does not change the general methodology or procedure for the application of sanctions, but updates and expands the personal list of subjects (natural and legal persons) upon whom restrictions are imposed.<\/p>\n
**3. Main Provisions Important for Practical Use**
\nFor the practical application and legal analysis of this act, the following provisions are the most important:
\n* **Identification of subjects:** The application of restrictions occurs strictly in accordance with the lists specified in Annexes 1 and 2 to the Order of the Cabinet of Ministers No. 453-r. This is the primary source for the verification of counterparties by banks, notaries, and other subjects of primary financial monitoring.
\n* **Scope of responsible authorities:** Implementation and monitoring are ensured by the Cabinet of Ministers, the Security Service of Ukraine (SBU), the National Bank of Ukraine, and the Commission on State Awards and Heraldry. This means that financial institutions and state bodies must be guided by the relevant instructions of the NBU and the SBU regarding the blocking of assets or the suspension of financial transactions of sanctioned persons.
\n* **International aspect:** The instruction to the Ministry of Foreign Affairs to inform the competent authorities of the EU and the USA indicates the initiation of the procedure for synchronizing Ukrainian sanctions lists with international partners, which is important for cross-border business and foreign jurisdictions.<\/p>\n