{
  "url": "https://openlegislation.uk/eu-regulation-2017-1501/introduction",
  "json_url": "https://openlegislation.uk/eu-regulation-2017-1501/introduction.json",
  "legislation": "eur/2017/1501",
  "legislation_title": "Council Regulation (EU) 2017/1501 of 24 August 2017 amending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People's Republic of Korea",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2017-1501",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Council Regulation (EU) 2017/1501\nof 24 August 2017\namending Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People's Republic of Korea\nTHE COUNCIL OF THE EUROPEAN UNION,\nHaving regard to the Treaty on the Functioning of the European Union, and in particular Article 215 thereof,\nHaving regard to Council Decision (CFSP) 2016/849 of 27 May 2016 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Decision 2013/183/CFSP,\nHaving regard to the joint proposal of the High Representative of the Union for Foreign Affairs and Security Policy and of the European Commission,\nWhereas:\n(1)\nCouncil Regulation (EC) No 329/2007 gives effect to measures provided for in Decision (CFSP) 2016/849.\n(2)\nAnnex IV to Regulation (EC) No 329/2007 lists persons, entities and bodies who, having been designated by the Sanctions Committee or the United Nations Security Council (UNSC) and are covered by the freezing of funds and economic resources under that Regulation.\n(3)\nAnnex V to Regulation (EC) No 329/2007 lists persons, entities and bodies who, not having been listed in Annex IV, have been listed by the Council, and are covered by the freezing of funds and economic resources under that Regulation.\n(4)\nOn 5 August 2017, the UNSC adopted Resolution 2371 (2017) in which it imposed new measures against North Korea. Among others, the UNSC added nine natural persons and four legal persons to the list of persons and entities subject to restrictive measures. The UNSC also laid down exemptions from those measures with regard to two legal persons, namely, the Foreign Trade Bank (FTB) and the Korean National Insurance Company (KNIC).\n(5)\nCommission Implementing Regulation (EU) 2017/1457 gives effect to the new measures by including the names of the relevant natural and legal persons in Annex IV to Regulation (EC) No 329/2007. Given that one legal person, namely, the KNIC, was previously included in Annex V to Regulation (EC) No 329/2007, it should now be deleted therefrom.\n(6)\nCouncil Decision (CFSP) 2017/1504 amended Decision (CFSP) 2016/849 in order to reflect the cases in which, under Resolution 2371 (2017), restrictive measures against the FTB and the KNIC do not apply.\n(7)\nRegulation (EC) No 329/2007 should therefore be amended accordingly,\nHAS ADOPTED THIS REGULATION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ L 141, 28.5.2016, p. 79."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Council Regulation (EC) No 329/2007 of 27 March 2007 concerning restrictive meausures against the Democratic People's Republic of Korea (OJ L 88, 29.3.2007, p. 1)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Commission Implementing Regulation (EU) 2017/1457 of 10 August 2017 amending Council Regulation (EC) No 329/2007 concerning restrictive measures against the Democratic People's Republic of Korea (OJ L 208, 11.8.2017, p. 33)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Council Decision (CFSP) 2017/1504 of 24 August 2017 amending Decision (CFSP) 2016/849 concerning restricted measures against the Democratic People's Republic of Korea (see page 22 of this Official Journal)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2017/1501/introduction",
    "retrieved_at": "2026-11-01T14:44:36.185986+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}