Explanatory Memorandum to COM(2011)583 - Amendment of Council Regulation (EC) No 765/2006 concerning restrictive measures in respect of Belarus

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dossier COM(2011)583 - Amendment of Council Regulation (EC) No 765/2006 concerning restrictive measures in respect of Belarus.
source COM(2011)583 EN
date 20-09-2011

Council Regulation (EC) No 765/2006 of 18 May 2006 provides for a freezing of the assets of President Lukashenko and certain officials of Belarus.

By Council Regulation (EU) No 588/2011 of 20 June 2011, the Council added further names to the list of persons targeted by the asset freeze. These further names included 3 entites.

By Council Decision 2011/ … /CFSP of …September 2011, the Council has decided that a derogation from the asset freeze should be provided, in order to ensure that EU companies are not prohibited from recovering funds owed to them by the listed entities under contracts entered into prior to the listing of those entities.

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

The High Representative of the Union for Foreign Affairs and Security Policy and the European Commission propose to amend Council Regulation (EC) No 765/2006 accordingly.