Explanatory Memorandum to JOIN(2012)21 - Amendment of Regulation (EU) No 267/2012 concerning restrictive measures against Iran - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
| dossier | JOIN(2012)21 - Amendment of Regulation (EU) No 267/2012 concerning restrictive measures against Iran. |
|---|---|
| source | JOIN(2012)21  |
| date | 12-07-2012 |
On 23 March 2012, the Council adopted Regulation (EU) No 267/2012 which repealed and replaced Regulation (EU) No 961/2010.
Where a Member State takes action in order to ensure that legal obligations concerning the health and safety of workers and environment protection are respected where cooperation with Iranian persons, entity or body may be affected by this Regulation, in cases of urgency, a Member State should be allowed to take such action without prior notification provided that it notifies the other Member States and the Commission as soon as possible afterwards.
Where a Member State had granted a licence to engage in the activities of exploitation of hydrocarbons to a designated (i.e. listed in Annex IX whose assets shall be frozen) person, entity or body before that person, entity or body was designated, the competent authority of that Member State may authorise derogation from certain prohibitions provided for in the Regulation where such derogation is needed to avoid environmental damage or permanent destruction of the license’s value.