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Summaries of EU Legislation

Restrictive measures to combat terrorism

SUMMARY OF:

Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism

WHAT IS THE AIM OF THE REGULATION?

It aims to prevent and ban the financing of terrorist acts1.

This regulation was adopted on the basis of Common Position 2001/931/CFSP.

KEY POINTS

  • EU countries decide unanimously the individuals, groups and entities covered by the legislation.
  • The list consists of natural and legal individuals, group or entities committing, attempting to commit, participate in or facilitate acts of terrorism, or controlled by, or acting on behalf of, any of those groups.
  • All funds, financial assets and economic resources2 belonging to, owned or held by anyone or any body on the proscribed list are frozen and may not be made available to anyone else.
  • It is an offence to knowingly and intentionally try to avoid the freezing of any assets.
  • EU countries may allow frozen funds to be used, under specific conditions, for:
    • essential personal needs, such as paying for food, medicines or accommodation;
    • taxes, insurance premiums and public utilities such as gas, water, electricity and telecommunications, and bank charges;
    • contracts concluded before the legislation came into force.
  • Banks, insurance companies and other financial institutions must provide any relevant information on frozen accounts to national authorities.
  • The legislation applies:
    • within the EU, including its airspace and on any aircraft or vessel under an EU country’s jurisdiction;
    • to any national of an EU country;
    • to any legal person, group or entity based in, or doing business within, the EU.
  • In December 2001, EU governments agreed to draw up of a list of individuals, groups and entities involved in terrorist acts whose funds and financial assets must be frozen (Common Position 2001/931/CFSP).

FROM WHEN DOES THE REGULATION APPLY?

It has applied since .

BACKGROUND

In September 2001, after the 11/9 attacks, government leaders made the fight against terrorism one of the EU’s priorities. Combating terrorism funding is a major way of achieving this. In the same month, the United Nations Security Council backed a freeze on all financial assets and economic resources used to commit terrorist acts.

KEY TERMS

  1. Terrorist acts: intentional actions which may seriously damage a country or international organisation and which are considered an offence under national law.
  2. Funds, other financial assets and economic resources: assets of every kind, whether tangible or intangible, movable or immovable.

MAIN DOCUMENT

Council Regulation (EC) No 2580/2001 of on specific restrictive measures directed against certain persons and entities with a view to combating terrorism (OJ L 344, , pp. 70-75)

Successive amendments to Regulation Regulation (EC) No 2580/2001 have been incorporated in the original text. This consolidated version is of documentary value only.

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