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Council Regulation (EU) No 296/2013Show full title
Council Regulation (EU) No 296/2013 of 26 March 2013 amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea
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Council Regulation (EU) No 296/2013
of 26 March 2013
amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People’s Republic of Korea
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 215(1) thereof,
Having regard to the joint proposal of the High Representative of the Union for Foreign Affairs and Security Policy and of the European Commission,
Whereas:
(1) Council Regulation (EC) No 329/2007(1) gives effect to measures provided for in Council Decision 2010/800/CFSP of 22 December 2010 concerning restrictive measures against the Democratic People’s Republic of Korea(2).
(2) On 18 February 2013, the Council adopted Decision 2013/88/CFSP(3) amending Decision 2010/800/CFSP which provided for additional restrictive measures against the Democratic People’s Republic of Korea (‘North Korea’) by giving effect to the additional measures required by United Nations (UN) Security Council Resolution 2087 (2013) and to further autonomous measures of the Union.
(3) Decision 2013/88/CFSP includes an additional criterion for autonomous designation by the Union of persons and entities subject to restrictive measures, namely persons involved in, including through the provision of financial services, the supply to or from North Korea of arms and related material of all types, or of items, materials, equipment, goods and technology which could contribute to North Korea’s nuclear-related, other weapons of mass destruction related or ballistic missile-related programmes.
(4) Furthermore, Decision 2013/88/CFSP prohibits the sale, supply, transfer to North Korea of certain other goods relevant to North Korea’s weapons of mass destruction-related programmes, in particular its ballistic-missile sector, especially certain types of aluminium.
(5) Decision 2013/88/CFSP also prohibits the sale, purchase, transportation or brokering of gold, precious metals and diamonds to, from or for the Government of North Korea and the delivery of newly printed or minted or unissued North Korean denominated banknotes and coinage to or for the benefit of the Central Bank of North Korea, as well as the sale or purchase of North Korean public or public-guaranteed bonds. Furthermore, Decision 2013/88/CFSP clarifies that where the Council has provided for a prohibition on financial services, this includes the provision of insurance and reinsurance services. This necessitates a technical amendment to Regulation (EC) No 329/2007.
(6) Decision 2013/88/CFSP prohibits the opening of new branches, subsidiaries, or representative offices of North Korean banks in the territories of Member States, the establishment of new joint ventures, or the taking of an ownership interest by the North Korean banks, including the Central Bank of North Korea, with banks in the jurisdiction of Member States.
(7) Moreover, in line with paragraph 13 of UN Security Council Resolution 2087 (2013), it is necessary to establish that no claims in connection with the performance of any contract or transaction affected by those measures shall be granted to designated persons or entities or any other person or entity in North Korea.
(8) Regulation (EC) No 329/2007 should therefore be amended accordingly,
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