diff --git a/libyul/optimiser/LoopInvariantCodeMotion.cpp b/libyul/optimiser/LoopInvariantCodeMotion.cpp
index 9a81e5fc8..3cc8397a9 100644
--- a/libyul/optimiser/LoopInvariantCodeMotion.cpp
+++ b/libyul/optimiser/LoopInvariantCodeMotion.cpp
@@ -35,9 +35,9 @@ void LoopInvariantCodeMotion::run(OptimiserStepContext& _context, Block& _ast)
 {
 	map<YulString, SideEffects> functionSideEffects =
 		SideEffectsPropagator::sideEffects(_context.dialect, CallGraphGenerator::callGraph(_ast));
-
+	bool containsMSize = MSizeFinder::containsMSize(_context.dialect, _ast);
 	set<YulString> ssaVars = SSAValueTracker::ssaVariables(_ast);
-	LoopInvariantCodeMotion{_context.dialect, ssaVars, functionSideEffects}(_ast);
+	LoopInvariantCodeMotion{_context.dialect, ssaVars, functionSideEffects, containsMSize}(_ast);
 }
 
 void LoopInvariantCodeMotion::operator()(Block& _block)
@@ -57,7 +57,8 @@ void LoopInvariantCodeMotion::operator()(Block& _block)
 
 bool LoopInvariantCodeMotion::canBePromoted(
 	VariableDeclaration const& _varDecl,
-	set<YulString> const& _varsDefinedInCurrentScope
+	set<YulString> const& _varsDefinedInCurrentScope,
+	SideEffects const& _forLoopSideEffects
 ) const
 {
 	// A declaration can be promoted iff
@@ -73,7 +74,8 @@ bool LoopInvariantCodeMotion::canBePromoted(
 		for (auto const& ref: ReferencesCounter::countReferences(*_varDecl.value, ReferencesCounter::OnlyVariables))
 			if (_varsDefinedInCurrentScope.count(ref.first) || !m_ssaVariables.count(ref.first))
 				return false;
-		if (!SideEffectsCollector{m_dialect, *_varDecl.value, &m_functionSideEffects}.movable())
+		SideEffectsCollector sideEffects{m_dialect, *_varDecl.value, &m_functionSideEffects};
+		if (!sideEffects.movableRelativeTo(_forLoopSideEffects, m_containsMSize))
 			return false;
 	}
 	return true;
@@ -82,6 +84,10 @@ bool LoopInvariantCodeMotion::canBePromoted(
 optional<vector<Statement>> LoopInvariantCodeMotion::rewriteLoop(ForLoop& _for)
 {
 	assertThrow(_for.pre.statements.empty(), OptimizerException, "");
+
+	auto forLoopSideEffects =
+		SideEffectsCollector{m_dialect, _for, &m_functionSideEffects}.sideEffects();
+
 	vector<Statement> replacement;
 	for (Block* block: {&_for.post, &_for.body})
 	{
@@ -93,7 +99,7 @@ optional<vector<Statement>> LoopInvariantCodeMotion::rewriteLoop(ForLoop& _for)
 				if (holds_alternative<VariableDeclaration>(_s))
 				{
 					VariableDeclaration const& varDecl = std::get<VariableDeclaration>(_s);
-					if (canBePromoted(varDecl, varsDefinedInScope))
+					if (canBePromoted(varDecl, varsDefinedInScope, forLoopSideEffects))
 					{
 						replacement.emplace_back(std::move(_s));
 						// Do not add the variables declared here to varsDefinedInScope because we are moving them.
diff --git a/libyul/optimiser/LoopInvariantCodeMotion.h b/libyul/optimiser/LoopInvariantCodeMotion.h
index a3bf1784f..1b2647924 100644
--- a/libyul/optimiser/LoopInvariantCodeMotion.h
+++ b/libyul/optimiser/LoopInvariantCodeMotion.h
@@ -49,17 +49,24 @@ private:
 	explicit LoopInvariantCodeMotion(
 		Dialect const& _dialect,
 		std::set<YulString> const& _ssaVariables,
-		std::map<YulString, SideEffects> const& _functionSideEffects
+		std::map<YulString, SideEffects> const& _functionSideEffects,
+		bool _containsMSize
 	):
+		m_containsMSize(_containsMSize),
 		m_dialect(_dialect),
 		m_ssaVariables(_ssaVariables),
 		m_functionSideEffects(_functionSideEffects)
 	{ }
 
 	/// @returns true if the given variable declaration can be moved to in front of the loop.
-	bool canBePromoted(VariableDeclaration const& _varDecl, std::set<YulString> const& _varsDefinedInCurrentScope) const;
+	bool canBePromoted(
+		VariableDeclaration const& _varDecl,
+		std::set<YulString> const& _varsDefinedInCurrentScope,
+		SideEffects const& _forLoopSideEffects
+	) const;
 	std::optional<std::vector<Statement>> rewriteLoop(ForLoop& _for);
 
+	bool m_containsMSize = true;
 	Dialect const& m_dialect;
 	std::set<YulString> const& m_ssaVariables;
 	std::map<YulString, SideEffects> const& m_functionSideEffects;
diff --git a/libyul/optimiser/Semantics.cpp b/libyul/optimiser/Semantics.cpp
index 1ceeec3e2..735ed13d0 100644
--- a/libyul/optimiser/Semantics.cpp
+++ b/libyul/optimiser/Semantics.cpp
@@ -62,6 +62,16 @@ SideEffectsCollector::SideEffectsCollector(
 	operator()(_ast);
 }
 
+SideEffectsCollector::SideEffectsCollector(
+	Dialect const& _dialect,
+	ForLoop const& _ast,
+	map<YulString, SideEffects> const* _functionSideEffects
+):
+	SideEffectsCollector(_dialect, _functionSideEffects)
+{
+	operator()(_ast);
+}
+
 void SideEffectsCollector::operator()(FunctionCall const& _functionCall)
 {
 	ASTWalker::operator()(_functionCall);
diff --git a/libyul/optimiser/Semantics.h b/libyul/optimiser/Semantics.h
index 1ff7e0d7e..70ec119ac 100644
--- a/libyul/optimiser/Semantics.h
+++ b/libyul/optimiser/Semantics.h
@@ -54,11 +54,48 @@ public:
 		Block const& _ast,
 		std::map<YulString, SideEffects> const* _functionSideEffects = nullptr
 	);
+	SideEffectsCollector(
+		Dialect const& _dialect,
+		ForLoop const& _ast,
+		std::map<YulString, SideEffects> const* _functionSideEffects = nullptr
+	);
 
 	using ASTWalker::operator();
 	void operator()(FunctionCall const& _functionCall) override;
 
 	bool movable() const { return m_sideEffects.movable; }
+
+	bool movableRelativeTo(SideEffects const& _other, bool _codeContainsMSize)
+	{
+		if (!m_sideEffects.cannotLoop)
+			return false;
+
+		if (m_sideEffects.movable)
+			return true;
+
+		if (
+			!m_sideEffects.movableApartFromEffects ||
+			m_sideEffects.storage == SideEffects::Write ||
+			m_sideEffects.otherState == SideEffects::Write ||
+			m_sideEffects.memory == SideEffects::Write
+		)
+			return false;
+
+		if (m_sideEffects.otherState == SideEffects::Read)
+			if (_other.otherState == SideEffects::Write)
+				return false;
+
+		if (m_sideEffects.storage == SideEffects::Read)
+			if (_other.storage == SideEffects::Write)
+				return false;
+
+		if (m_sideEffects.memory == SideEffects::Read)
+			if (_codeContainsMSize || _other.memory == SideEffects::Write)
+				return false;
+
+		return true;
+	}
+
 	bool canBeRemoved(bool _allowMSizeModification = false) const
 	{
 		if (_allowMSizeModification)
@@ -70,6 +107,7 @@ public:
 	bool invalidatesStorage() const { return m_sideEffects.storage == SideEffects::Write; }
 	bool invalidatesMemory() const { return m_sideEffects.memory == SideEffects::Write; }
 
+	SideEffects sideEffects() { return m_sideEffects; }
 
 private:
 	Dialect const& m_dialect;