The EU’s 12th sanctions package (Dec 2023) introduced Article 5r of Regulation 833/2014, requiring EU entities with over 40% Russian ownership to report quarterly transfers above €100,000 out of the EU (from 1 May 2024). EU credit and financial institutions must report such transfers semi-annually (from 1 July 2024). Reports use an EU template. Breaches risk fines or imprisonment, with Member States and the Commission reviewing compliance by Dec 2024.