EU sanctions

FI receives information about frozen assets and economic resources pursuant to the EU sanctions regulations. Notifications about frozen assets and economic resources must contain information about

• the name of the person/unit/body to which the freeze refers,
• regulations, articles and any annexes that serve as a basis for the freeze, 
• the date the freeze occurred, 
• the amount/balance/value of the frozen assets, and 
• a specification of what has been frozen in the form of an account or another asset.

The notification is sent to finansinspektionen@fi.se. Write "EU sanctions" in the Subject line. In dialogues pertaining to an existing matter, it is important to include FI's reference number.

Finansinspektionen is also tasked with passing on information about frozen assets and economic resources to the European Commission and to grant exemption from the freezing of assets that refer to payment of operators' fees for routine maintenance.

Assets and reserves of Russia's central bank

FI receives information about assets and reserves of Russia's central bank that are held or controlled by natural or legal persons pursuant to Article 5a.4a of Council Regulation (EU) 833/2014. Notifications about information pertaining to assets and reserves of Russia's central bank must contain as a minimum information regarding 

• the identity of the natural or legal person who owns, holds or controls such assets and reserves, including name, address and VAT registration number or tax registration number. 
• amounts or market values for such assets and reserves on the reporting day and the day of immobilisation. 
• types of assets and reserves broken down into the categories specified in Article 5a.4a(c) of Regulation (EU) 833/2014. Relevant information, such as quantity, location, currency, maturity and contract terms, between the reporting unit and the owner of the assets, must be provided for each of these categories.

The information must be reported no later than two weeks after 26 February 2023 and be updated every third month.

The notification is sent to finansinspektionen@fi.se. Write "EU sanctions" in the Subject line. In dialogues pertaining to an existing matter, it is important to include FI's reference number.

FI has also been tasked with forwarding information about the assets and reserves of the Russian central bank to the European Commission and grant exemptions from bans on conducting transactions related to the management of the reserves and assets of the central banks of Russia and Belarus.

Deposits exceeding EUR 100,000 for Russia and Belarus

FI receives lists and information from credit institutions about deposits exceeding EUR 100,000 according to Article 5g of Regulation (EU) 833/2014 and Article 1z of Regulation (EU) 765/2006.

Credit institutions must submit every year no later than 27 May a list of deposits exceeding EUR 100,000 held by Russian or Belarusian citizens or natural persons residing in Russia or Belarus or by legal persons, units or bodies established in Russia or Belarus. The reference date for Russian deposits is 26 February 2022 and for Belarusian deposits 10 March 2022.

Credit institution must submit every year no later than 27 May a report of deposits exceeding EUR 100,000 held by legal persons, units or bodies established outside of the European Union and for whom more than 50 per cent of the ownership rights are directly or indirectly owned by Russian citizens or natural persons residing in Russia.

The reports from Swedish credit institutions must include the Swedish operations and their foreign branches' operations. Foreign credit institutions operating through a branch in Sweden are not subject to the requirement on reporting to Finansinspektionen.

Credit institutions that do not have any deposits pursuant to the above do not need to report this to Finansinspektionen.

The reports must be sent to finansinspektionen@fi.se every year no later than 27 May. Write "EU sanctions – reporting of deposits" in the Subject line. Use the template below that EBA has prepared on behalf of the European Commission.

Please note that we expect the reports to be denominated in EUR. In dialogues pertaining to an existing matter, it is important to include FI's reference number.

• Reporting template 

• Instructions for revised templates for reporting of deposits

FI has also been tasked with notifying the European Commission about the reports and information about deposits received pursuant to the above and granting exemption from bans on receiving deposits exceeding EUR 100,000 if they refer to payment of fees for routine management or management of frozen assets. 

Outgoing transfers of funds outside the EU

FI receives reports on outgoing transfers of funds outside the EU pursuant to Article 5r of Regulation (EU) 833/2014.

As of 1 May 2024, legal persons established in the European Union for which Russian citizens or natural or legal persons residing/established in Russia hold directly or indirectly more than 40 per cent ownership must report all transfers of funds made from the EU during the quarter in one or several transactions that exceed EUR 100,000. The report must be submitted within two weeks of the end of each quarter to the competent authority in the Member State where they are established.

Credit and financial institutions must report transfers of funds out of the European Union of a cumulative amount exceeding EUR 100,000, for the period 1 January 2024 – 30 June 2024 that they initiated, directly or indirectly, for the legal persons, entities and bodies whose proprietary rights are directly or indirectly owned for more than 40 per cent by Russian nationals or natural or natural persons residing or established in Russia. Credit and financial institutions must submit the data for the first half of the year 15 July 2024 at the latest, and from then on, regularly every six months. The reporting obligation also applies to banks' branches and subsidiaries located in Sweden.

Legal persons, credit institutions and financial institutions that have not handled transfers in accordance with that specified above do not need to report this to Finansinspektionen.

The report should be sent to finansinspektionen@fi.se. Write "EU sanctions – outgoing transfers" in the Subject line. Use the template below that EBA has prepared on behalf of the European Commission.

Please note that we only receive reporting in EUR. In dialogues pertaining to an existing matter, it is important to include FI's reference number.

• Commission's reporting template 

• Commission's FAQ – Reporting on outgoing transfers

• Reporting on outgoing transfers

Natural or legal persons on a sanction list must report assets (self-reporting)

FI receives reports of assets from natural and legal persons on a sanction list pursuant to Article 9(2) of Regulation (EU) 269/2014. These persons must report within six weeks from the date of the publication of the list in Annex 1 monetary or economic resources within Sweden that belong to them or that they own, hold or exercise control over.

Reports submitted to Finansinspektionen must contain the following information:

• name of the person/unit/body 
• article and regulation that serves as the basis for the sanction 
• specification of the monetary funds (account holdings) or asset 
• amount/balance/value of the account holding or assets

Use the reporting template below and email it to finansinspektionen@fi.se. Write "EU sanctions" in the Subject line. In dialogues pertaining to an existing matter, it is important to include FI's reference number. 

• Report template pursuant to Article 9

FI is a competent authority for granting exemption from bans on holding bank accounts for North Korea's diplomatic mission, post and its North Korean members pursuant to Article 29 of Regulation (EU) 2017/1509.

FI is also a competent authority for allowing credit institutions and financial institutions to allow certain representative offices, branches, subsidiaries in North Korea, or bank accounts to remain operational according to Article 27 of Regulation (EU) 2017/1509 on the condition that the sanction committee has made the assessment that the operations or accounts are required for

• humanitarian activities,
• activities of diplomatic missions in North Korea, or
• activities of the UN or its specialised agencies or related organisations or 
• any other purpose consistent with the objectives of a number of UN resolutions.

Businesses that wish to apply for exemption in areas where FI is the competent authority are asked to write to eusanktioner@fi.se for more information.

Since 1 January 2024, FI makes interim (temporary) decisions regarding the freezing of assets and economic resources. We make decisions when the UN's Security Council or a sanction committee under the Security Council has listed a natural or legal person in a sanctions regime that includes targeted economic sanctions.

Our freezing decisions apply until the decision is made by the EU through a change in a previously adopted regulation on economic sanctions. All natural and legal persons in Sweden must comply with these decisions, i.e., even those that are not under our supervision.

The decision entails a ban on exercising control over and providing assets and economic resources with the aim of preventing every possibility of such being used without specific permission.

Penal provisions are set out in the Certain International Sanctions Act (1996:95) (riksdagen.se)

• FI's interim decisions: Freezing of assets (in Swedish)

FI has a supervisory mandate to review financial corporations' compliance with the EU sanctions regulations.

• Ongoing supervision activities (in Swedish)

FI does not investigate individual breaches of the EU sanctions regulations according to penal provisions in the Sanctions Act. Such investigation is performed by anti-crime authorities.