(b)

the release of certain frozen funds or economic resources, or the making available of certain funds or economic resources belonging to, owned, held or controlled, directly or indirectly, individually or jointly, by one or both of the individuals listed under entries 674 and 675 under the heading “Persons” in Annex I, or by any entity directly or indirectly owned, controlled or participated by those individuals, or funds or economic resources owned, held or controlled by such individuals in entities or credit institutions listed (under the entries 198 or 270) under the heading “Entities” in Annex I after having determined that: such release or making available of funds or economic resources is carried out for the sole purpose of enabling the counterparty to discharge its payment obligation owed to a credit institution established in the Union pursuant to a put option right contractually agreed and duly exercised prior to 28 February 2022, but not yet effected as at the date of entry into force of this derogation; the funds or economic resources released or made available are transferred directly to the credit institution established in the Union in satisfaction of such contractual obligation; and the credit institution established in the Union to which the consideration is paid is not a person, entity or body listed in Annex I.’

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.