Joint Proposal for a Council Regulation amending Regulation (EU) No 442/2011 concerning restrictive measures in view of the situation in Syria

On 9 May 2011, the Council adopted Regulation (EU) No 442/2011 concerning restrictive measures in view of the situation in Syria.

On 2 September 2011, the Council amended the Regulation to extend the measures against Syria, including an expansion of the listing criteria, and a prohibition on the purchase, import or transportation of crude oil from Syria.

On 23 September 2011, the Council amended the Regulation extending further the measures against Syria, to include a prohibition on investment in the crude oil sector, the addition of further listings, and a prohibition of the delivery of Syrian banknotes and coins to the Central Bank of Syria.

The Council has now reached political agreement on the adoption of additional measures, namely the listing of an additional entity, together with a derogation permitting on a temporary basis the use of frozen funds subsequently received by this entity in connection with the financing of trade with non-designated persons and entities.

This measure falls within the scope of the Treaty on the Functioning of the European Union and, therefore, notably with a view to ensuring its uniform application by economic operators in all Member States, regulatory action at the level of the Union is necessary in order to implement it.

• Primary Source

EUR-Lex: COM(2011)645: Follow the progress of this document through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2011:645:FIN

---