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Glossary termPublished inIPR

Targeted financial restrictive measure

What does "Targeted financial restrictive measure" mean under the Instant Payments Regulation?

An asset freeze imposed on a person, body or entity or a prohibition on making funds or economic resources available to a person, body or entity, or for its benefit, either directly or indirectly, pursuant to restrictive measures adopted in accordance with Article 215 TFEU

Article 215 of the Treaty on the Functioning of the European Union:

  • 1. Where a decision, adopted in accordance with Chapter 2 of Title V of the Treaty on European Union, provides for the interruption or reduction, in part or completely, of economic and financial relations with one or more third countries, the Council, acting by a qualified majority on a joint proposal from the High Representative of the Union for Foreign Affairs and Security Policy and the Commission, shall adopt the necessary measures. It shall inform the European Parliament thereof.
  • 2. Where a decision adopted in accordance with Chapter 2 of Title V of the Treaty on European Union so provides, the Council may adopt restrictive measures under the procedure referred to in paragraph 1 against natural or legal persons and groups or non-State entities.
  • 3. The acts referred to in this Article shall include necessary provisions on legal safeguards.

Defined in / by

Last updated: 22 August 2026.

Regulations

  • Instant Payments Regulation (IPR)

    The Instant Payments Regulation is Regulation (EU) 2024/886, which amends the SEPA Regulation. Euro-area banks have had to send instant euro credit transfers and offer Verification of Payee since 9 October 2025. Payment institutions and e-money institutions have until 9 April 2027. Daily sanctions screening replaced in-flight screening on 9 January 2025.

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