Council Regulation (EU) 2023/2877 concerning restrictive measures in view of the situation in Syria

New Council Regulation (EU) 2023/2877 as regards sanction measures „in view of the situation in Syria“ was published in the Official Journal (OJ) of the EU. The regulation modifies Council Regulation (EU) No 36/2012 relating to same issue, specifically Article 16a of the 2012 regulation, to extend the permission for otherwise prohibited (financial) transactions to enable continuous humanitarian aid in the country following the devastating earthquake on February 6, 2023.
In detail, the new regulation extends, up to June 1, 2024, the permission for the „making available of funds or economic resources“ to specified organizations, entities, and bodies including the United Nations (UN) or any of its related organizations for humanitarian purposes and / or for the purpose of satisfying basis human needs. A corresponding list of organizations is provided in the regulation. National competent authorities may also authorize in special cases the release of frozen funds to the UN for purposes of providing „humanitarian relief in Syria or assistance to the civilian population in Syria“.