Considerations on JOIN(2014)24 - Amendment of Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with Iraq

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dossier JOIN(2014)24 - Amendment of Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with ...
document JOIN(2014)24 EN
date July 22, 2014
 
table>(1)Council Regulation (EC) No 1210/2003 (2) imposes restrictive measures in respect of Iraq, in accordance with Common Position 2003/495/CFSP and UN Security Council Resolution 1483 (2003).
(2)Paragraphs 3 and 4 of Article 4 of Regulation (EC) No 1210/2003, providing that no funds or economic resources are to be made available, directly or indirectly, to or for the benefit of a natural or legal person, body or entity listed in Annex IV to that Regulation, so as to enable that person, body or entity to obtain funds, goods or services, should be merged.

(3)On 22 July 2014, the Council adopted Decision 2014/484/CFSP (3) prohibiting funds or economic resources from being made available, directly or indirectly, for the benefit of listed persons and entities. Specific exemptions are provided for, namely funds and economic resources which are: (a) necessary to satisfy basic needs, (b) intended exclusively for payment of reasonable professional fees and reimbursement of incurred expenses associated with the provision of legal services, (c) intended exclusively for payment of fees or services charges for holding or maintenance of frozen funds and economic resources, or (d) necessary for payment of extraordinary expenses.

(4)It is also appropriate to update Regulation (EC) No 1210/2003 with recent information provided by the Member States regarding the identification of competent authorities.

(5)Regulation (EC) No 1210/2003 should therefore be amended accordingly,