Restrictive measures adopted by the EU in response to Russian military aggression in Ukraine

The Bank of Italy, CONSOB, IVASS and UIF draw the attention of supervised entities to the full compliance with the restrictive measures decided by the European Union in relation to the war in Ukraine.

In order to comply with the disclosure mandates of the freezing measures applied to the designated subjects, the indications provided by the FIU in its press release of 4 March 2022, which can be consulted by clicking here, should be taken into consideration.

The binding parties, in addition to complying with these measures by implementing the necessary controls and devices, are sent to:

• exercise the maximum attention with reference to the risk of cyber attacks, to intensify monitoring and defense activities in relation to possible malware events;
• carefully consider the business continuity plans and guarantee the correct functioning and prompt restoration of backups. In this context, the importance of ensuring the separation of the backup environment from the operating environment is emphasized, evaluating the possibility of providing offline backup solutions (i.e. that are not physically or logically connected to the network) of essential systems and data.

Please note that the measures – adopted by the European Union through Regulations and Decisions – are binding in their entirety and are directly and immediately applicable in each of the Member States and can be consulted on the websites of the Official Journal of the European Union, of the European Council, of the  Financial Intelligence Unit – UIF and the Finacial Security Committee.

To consult the documentation:

Press release about  EU restrictive measures in response to Russian military aggression in Ukraine