Explanatory Memorandum to COM(2011)645 - Amendment of Regulation (EU) No 442/2011 concerning restrictive measures in view of the situation in Syria - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2011)645 - Amendment of Regulation (EU) No 442/2011 concerning restrictive measures in view of the situation in Syria. |
|---|---|
| source | COM(2011)645  |
| date | 10-10-2011 |
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 Regulation (EU) No 442/2011 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 Regulation (EU) No 442/2011 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.