(3)For some third-country jurisdictions, no equivalence decision as referred to in Article 2a of Regulation (EU) No 648/2012 has yet been adopted. As a result, contracts executed on markets in those third-country jurisdictions are considered OTC and, although being cleared by recognised CCPs, count towards the clearing thresholds. In addition, commodity prices have recently increased, significantly exacerbated by Russia’s unprovoked and unjustified military aggression against Ukraine. Those reasons call for a corresponding adjustment of the current threshold for commodity derivatives. The clearing threshold value for positions held in OTC commodity derivatives should therefore be increased from EUR 3 billion to EUR 4 billion.