Joint proposal for a COUNCIL REGULATION amending Council Regulation (EC) No 560/2005 imposing certain specific restrictive measures directed against certain persons and entities in view of the situation in Côte d’Ivoire
Date: 2011-04-01
Institutions: European Commission, High Representative of the Union
Subjects: Côte d'Ivoire, economic sanctions, foreign capital, international sanctions, legal person, natural person

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EUROPEAN COMMISSION 

HIGH REPRESENTATIVE OF  
THE EUROPEAN UNION FOR 
FOREIGN AFFAIRS AND 
SECURITY POLICY 

Brussels, 1.4.2011 
COM(2011) 194 final 

2011/0078 (NLE) 

Joint proposal for a 

COUNCIL REGULATION 

amending Council Regulation (EC) No 560/2005 imposing certain specific restrictive 
measures directed against certain persons and entities in view of the situation in Côte 
d’Ivoire 

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EXPLANATORY MEMORANDUM 

(1) 

(2) 

(3) 

Council  Regulation  (EC)  No  560/2005,  as  modified  by  Regulation  (EU)  25/2011, 
gives  effect  to  Council  Decision  2010/656/CFSP  and  imposes  certain  restrictive 
measures  in  view  of  the  situation  in  Côte  d’Ivoire.  These  measures  comprise,  inter 
alia, a freezing of assets of certain persons and entities who are obstructing the process 
of peace and national reconciliation.  

Council  Decision  2011/[…]/CFSP  of  […]  amends  Council  Decision  2010/656/CFSP 
renewing  the  restrictive  measures  concerning  Côte  d’Ivoire,  and  provides  for  the 
adoption of further restrictive measures in view of the seriousness of the situation in 
Côte d’Ivoire.  

These further measures include a prohibition on the trade of bonds and the provision 
of loans to the illegitimate government of Mr. Gbagbo, as well as some adjustments to 
the freezing measures in order to allow for legitimate trade under contracts concluded 
prior  to  the  adoption  of  sanctions.  In  addition,  the  Council  Decision  includes  a 
provision  to  ensure  that  the  measures  do  not  affect  the  provision  of  humanitarian 
assistance in Côte d’Ivoire.  

(4) 

The  High  Representative  of  the  EU  for  Foreign  Affairs  and  Security  Policy  and  the 
Commission propose to give effect to these measures by means of a Regulation based 
on Article 215 of the Treaty on the Functioning of the European Union (TFEU). 

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2011/0078 (NLE) 

Joint proposal for a 

COUNCIL REGULATION 

amending Council Regulation (EC) No 560/2005 imposing certain specific restrictive 
measures directed against certain persons and entities in view of the situation in Côte 
d’Ivoire 

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 2011/[…]/CFSP of […] renewing the restrictive measures 
in view of the situation in Côte d’Ivoire, 

Having  regard  to  the  joint  proposal  from  the  High  Representative  of  the  Union  for  Foreign 
Affairs and Security Policy and the Commission, 

After consulting the European Data Protection Supervisor, 

Whereas: 

(1) 

(2) 

Council  Decision  2011/[…]/CFSP  of  […]  provides,  inter  alia,  for  further  restrictive 
measures in relation to Côte d’Ivoire, including a prohibition on the trade of bonds and 
the  provision  of  loans  to  the  illegitimate  government  of  Mr.  Gbagbo,  and  further 
provisions  in  relation  to  the  measures  imposed  by  Council  Decision  2010/656/CFSP 
including  a  provision  to  ensure  that  these  measures  do  not  affect  humanitarian 
operations in Côte d’Ivoire. 

These measures fall within the scope of the Treaty on the Functioning of the European 
Union  and,  therefore,  notably  with  a  view  to  ensuring  their  uniform  application  by 
economic operators in all Member States, regulatory action at the level of the Union is 
necessary in order to implement them. 

(3) 

In order to ensure that the measures provided for in this Regulation are effective, this 
Regulation must enter into force immediately, 

HAS ADOPTED THIS REGULATION: 

Article 1 

Regulation (EU) No 560/2005 is amended as follows: 

(1) 

The following Article shall be inserted:  

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“Article 3a 

By  way  of  derogation  from  Article  2,  the  competent  authorities  of  the  Member 
States, as indicated on the websites listed in Annex II, may authorise, with regard to 
persons  and  entities  listed  in  Annex  IA,  the  release  of  certain  frozen  funds  or 
economic resources or the making available of certain funds or economic resources 
which  are  necessary  for  humanitarian  purposes,  after  notification  in  advance  to  the 
other Member States and to the Commission.” 

(2) 

The following Article shall be inserted:  

“Article 3b 

By way of derogation from Article 2 and provided that a payment by a person, entity 
or body listed in Annex IA is due under a contract or agreement that was concluded 
by,  or  an  obligation  that  arose  for  the  person,  entity  or  body  concerned,  before  the 
date  on  which  that  person,  entity  or  body  had  been  designated,  the  competent 
authorities of the Member States, as indicated on the websites listed in Annex II, may 
authorise,  under  such  conditions  as  they  deem  appropriate,  the  release  of  certain 
frozen funds or economic resources, provided that the competent authority concerned 
has determined that: 

(i) 

the funds or economic resources shall be used for a payment by a person, entity 
or body listed in Annex IA; 

(ii) 

the payment is not in breach of Article 2 (2); 

The  Member  State  concerned  shall,  at  least  two  weeks  prior  to  the  grant  of  the 
authorisation,  notify  the  other  Member  States  and  the  Commission  of  that 
determination and its intention to grant an authorisation.” 

(3) 

The following Article is inserted: 

It shall be prohibited: 

“Article 9a 

(a) 

to  purchase,  broker  or  assist  in  the  issue  of  bonds  or  securities  issued  or 
guaranteed  after  the  date  of  entry  into  force  of  this  Regulation  by  the 
illegitimate  government  of  Mr  Laurent  Gbagbo,  as  well  as  by  persons  or 
entities  acting  on  its  behalf  or  under  its  authority,  or  by  entities  owned  or 
controlled  by  it.  By  way  of  exception  to  the  foregoing,,  financial  institutions 
shall be authorised to purchase such bonds or securities of corresponding value 
to bonds and securities already held by them and which are due to mature; 

(b) 

to  provide  loans,  in  any  form,  to  the  illegitimate  government  of  Mr  Laurent 
Gbagbo,  as  well  as  to  persons  or  entities  acting  on  its  behalf  or  under  its 
authority, or to entities that it owns or controls. 

(4) 

The following Article is inserted: 

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“Article 9b 

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The  prohibitions  set  out  in  Article  2(2)  and  in  Article  9a  shall  not  give  rise  to  any 
liability of any kind on the part of the natural and legal persons, entities and bodies 
who made funds or economic resources available if they did not know, and had no 
reasonable  cause  to  suspect,  that  their  actions  would  infringe  the  prohibitions  in 
question.” 

This Regulation shall enter into force on the day of its publication in the Official Journal of 
the European Union. 

Article 2 

This Regulation shall be binding in its entirety and directly applicable in all Member States. 

Done at Brussels, […] 

For the Council 
The President 
[…] 

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