Unreliability of sanctioned persons

A natural or legal person, or a partnership, is deemed unreliable where, under a directly applicable legal act of the European Communities or the European Union published in the Official Journal of the European Communities or the European Union that serves to implement an economic sanctions measure decided by the Council of the European Union in the field of the Common Foreign and Security Policy, its funds and economic resources are frozen, or funds or economic resources may not be made available to it or accrue to its benefit, whether directly or indirectly. A natural person is, as a rule, deemed unreliable where the person acts as a manager, supervisory board member, or in a comparable position for a person or partnership under the first sentence; this does not apply to employee representatives. A natural person is, as a rule, also deemed unreliable where the person represents the interests of a person or partnership under the first sentence as a member of a supervisory or administrative board, or of a comparable oversight body, in an institution that does not fall under the first sentence.