Yes, this would be related to the removal of Chapter VII. The Sanctions Committee which was established under Security Council(SC) Resolution 1518(2003) provides the oversight for the frozen funds and the individuals and business entities on their list. Every SC resolution has to be reviewed and any "loose ends" must be completed before that resolution can be terminated. Once all resolutions have been satisfactorily resolved, Chapter VII should be terminated. What I found interesting about the EU's action this week was the 1-1/2+ year delay in modifying Regulation 1210. The DFI was terminated on June 30, 2011 and they are just now getting around to changing the legal transfer procedures. It may be connected to the Sanctions Committee annual meeting which is typically held after the 1st of the year. If so, this would be a positive step in finalizing the termination of Chapter VII.