Council Regulation (EEC) No 1432/92 of 1 June 1992 prohibiting trade between the European Economic Community and the Republics of Serbia and Montenegro

COUNCIL REGULATION (EEC) No 1432/92  of 1 June 1992  prohibiting trade between the European Economic Community and the Republics of Serbia and Montenegro
THE COUNCIL OF THE EUROPEAN COMMUNITIES,
Whereas the Community and its Member States have decided to recognize the independence of the Republic of Bosnia-Herzegovina as of 7 April 1992;
Whereas this Republic has become a Member of the United Nations as of 23 May 1992;
Whereas the prolonged direct and indirect activities of the Republics of Serbia and Montenegro in and with regard to the Republic of Bosnia-Herzegovina are the main cause for the dramatic developments in the Republic of Bosnia-Herzegovina;
Whereas a continuation of these activities will lead to further unacceptable loss of human life and material damage, and to a breach of international peace and security in the region;
Whereas the United Nations Security Council, in its Resolution 752 (1992), has expressed its serious concern about the rapid and violent deterioration of the situation in the Republic of Bosnia-Herzegovina;
Whereas the President of the Republic of Bosnia-Herzegovina has asked the international community to assist his country against the intervention of the Republics of Serbia and Montenegro in the internal affairs of the Republic of Bosnia-Herzegovina;
Whereas the Community and its Member States, meeting within the framework of political cooperation, have decided that measures have to be taken to dissuade the Republics of Serbia and Montenegro from further violating the integrity and security of the  Republic of Bosnia-Herzegovina and to induce them to cooperate in the restoration of peace and dialogue in the region;
Whereas the United Nations Security Council, acting under Chapter VII of the Charter of the United Nations, has adopted Resolution 757 (1992) - establishing an economic embargo on the Republics of Serbia and Montenegro;
Whereas under these conditions the Community's economic relations with the Republics of Serbia and Montenegro must be halted;
Whereas the Community and its Member States have agreed to have recourse to a Community instrument, inter alia in order to ensure an uniform implementation throughout the Community of certain of these measures;
Having regard to the Treaty establishing the European Economic Community and in particular Article 113 thereof,
Having regard to the proposal from the Commission,