This was an interesting find. Ireland has revoked the prohibition on financial transactions with Iraq effective 1/12/09. The only restrictions still in effect are those that are required by the UN under Chapter VII.
STATUTORY INSTRUMENTS
S.I. No. 6 of 2009
————————
FINANCIAL TRANSFERS (IRAQ) (PROHIBITION) ORDER 2008
I, BRIAN LENIHAN, Minister for Finance, in exercise of the powers conferred
on me by section 4 of the Financial Transfers Act 1992 (No. 27 of 1992)
and for the purpose of giving full effect to Council Regulation (EC) No.
1210/2003 of 7 July 20031, as amended, hereby order as follows:
5. The Central Bank and Financial Services Authority of Ireland may, for
the purpose of supervision of financial transfers and for the administration and
enforcement of the provisions of this Order, give such directions or issue such
instructions to a person as it sees fit.
8. The Financial Transfers (Iraq) (Prohibition) Order 2006 (S.I. No. 423 of
2006) is revoked (with the following exceptions).
The sanctions include:
• a provision that proceeds from the sale of petroleum, petroleum products
and natural gas from Iraq are deposited into the development
fund for Iraq;
• a prohibition on the import or export of Iraqi cultural property into
or from the Community, if they have been removed from Iraq;
• the freezing of funds and economic resources of the previous Government
of Iraq or of named public bodies and corporations associated
with it; and
• the freezing of funds and economic resources of former Iraqi President
Saddam Hussein, his immediate family and his officials and close
associates and their families, as listed under the Council Regulation.
The Order provides that the Central Bank and Financial Services Authority of
Ireland may issue instructions for the purpose of giving full effect to the financial
sanctions and requires compliance with such instructions.
GIVEN under my Official Seal,
12 January 2009
BRIAN LENIHAN,
Minister for Finance.
STATUTORY INSTRUMENTS
S.I. No. 6 of 2009
————————
FINANCIAL TRANSFERS (IRAQ) (PROHIBITION) ORDER 2008
I, BRIAN LENIHAN, Minister for Finance, in exercise of the powers conferred
on me by section 4 of the Financial Transfers Act 1992 (No. 27 of 1992)
and for the purpose of giving full effect to Council Regulation (EC) No.
1210/2003 of 7 July 20031, as amended, hereby order as follows:
5. The Central Bank and Financial Services Authority of Ireland may, for
the purpose of supervision of financial transfers and for the administration and
enforcement of the provisions of this Order, give such directions or issue such
instructions to a person as it sees fit.
8. The Financial Transfers (Iraq) (Prohibition) Order 2006 (S.I. No. 423 of
2006) is revoked (with the following exceptions).
The sanctions include:
• a provision that proceeds from the sale of petroleum, petroleum products
and natural gas from Iraq are deposited into the development
fund for Iraq;
• a prohibition on the import or export of Iraqi cultural property into
or from the Community, if they have been removed from Iraq;
• the freezing of funds and economic resources of the previous Government
of Iraq or of named public bodies and corporations associated
with it; and
• the freezing of funds and economic resources of former Iraqi President
Saddam Hussein, his immediate family and his officials and close
associates and their families, as listed under the Council Regulation.
The Order provides that the Central Bank and Financial Services Authority of
Ireland may issue instructions for the purpose of giving full effect to the financial
sanctions and requires compliance with such instructions.
GIVEN under my Official Seal,
12 January 2009
BRIAN LENIHAN,
Minister for Finance.