THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 215 thereof,
Having regard to Council Decision 2013/183/CFSP of 22 April 2013 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Decision 2010/800/CFSP,
Having regard to the joint proposal from the High Representative of the Union for Foreign Affairs and Security Policy and the European Commission,
Whereas:
(1)
Council Regulation (EC) No 329/2007 gives effect to measures provided for in Decision 2013/183/CFSP. On 2 March 2016, the United Nations Security Council adopted Resolution 2270 (2016) providing for new restrictive measures against North Korea. Those measures include additional criteria for listing persons and entities subject to the asset freeze, sectorial prohibitions concerning the procurement of gold, titanium ore, vanadium ore, rare earth minerals, coal, iron and iron ore from North Korea, prohibitions on the sale or supply of aviation fuel, prohibitions on maintenance of correspondent banking relationships and joint ventures with banks and entities with links to North Korea, and additional restrictive measures in the transport sector. Further prohibitions are included on the transfer and procurement of items which could contribute to the development of the operational capabilities of North Korea's armed forces, or the export of which could support or enhance the operational capabilities of armed forces of another UN Member State outside North Korea.
(2)
On 31 March 2016, the Council adopted Decision (CFSP) 2016/476, giving effect to those measures.
(3)
Regulation (EC) No 329/2007 should therefore be amended accordingly.
(4)
In order to ensure that the measures provided for in this Regulation are effective, this Regulation should enter into force immediately,
HAS ADOPTED THIS REGULATION: