2.

By way of derogation from Article 5(4) and provided that a payment is due under a contract or agreement that was concluded by, or an obligation that arose for, the person, entity or body concerned, before the date on which that person, entity or body had been designated by the Security Council or the Sanctions Committee, the competent authorities of the Member States, as indicated on the websites listed in Annex IV, may authorise, under such conditions as they deem appropriate, the release of certain frozen funds or economic resources, if the following conditions are met: the competent authority concerned has determined that the payment is not in breach of Article 5(2) nor is it for the benefit of an entity referred to in Article 5(4); the Sanctions Committee has been notified by the relevant Member State of the intention to grant an authorisation ten working days in advance.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.