(3)

the following Article is inserted: ‘Article 5c 1. By way of derogation from Article 2, the competent authorities of the Member States may authorise the release of certain frozen funds or economic resources where such funds or economic resources are subject to an arbitral decision rendered after the date on which the natural or legal person, entity or body referred to in Article 2 was included in Annex I, provided that the arbitral proceedings giving rise to that decision were initiated by that natural or legal person, entity or body. Such authorisation may be granted insofar as the arbitral decision concerns the award of costs of arbitral proceedings, and the arbitral decision awards such costs to a party that is a natural or legal person, entity or body that is neither listed, nor owned or controlled by a listed person, entity or body subject to the restrictive measures in this Regulation, or that is not a Russian national nor established in Russia and that is not subject to the restrictive measures set out in Regulation (EU) No 833/2014. 2. Such authorisation shall be limited to the payment of costs of the arbitral proceedings, including, where applicable, the fees and expenses of the arbitral tribunal, administrative fees of the arbitral institution, and reasonable legal and other procedural costs incurred by the opposing party, as awarded by the arbitral tribunal in connection with the conduct of the arbitral proceedings. It shall not extend to the payment of any principal amount, damages, interest or other substantive claims awarded for as long as sanctions are in force.’ ;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.