PURPOSE: to repeal Council Regulation (EC) No 1342/2007.
LEGISLATIVE ACT: Regulation (EU) No 529/2012 of the European Parliament and of the Council repealing Council Regulation (EC) No 1342/2007 on administering certain restrictions on imports of certain steel products from the Russian Federation.
BACKGROUND: the Agreement on partnership and cooperation establishing a partnership between the European Communities and their Member States, of the one part, and the Russian Federation, of the other part(‘the PCA’), entered into force on 1 December 1997. This Agreement contains provisions on trade in certain steel products.
On 26 October 2007, the European Community and the Russian Federation concluded an Agreement on trade in certain steel products, and on 22 October 2007, the Council adopted Regulation (EC) No 1342/2007. The Agreement stipulates that in the event that the Russian Federation accedes to the World Trade Organisation before the expiry of the Agreement, the latter will be terminated and, as a consequence, the quantitative limits will be abolished as of the date of accession.
CONTENT: in view of the fact that: (i) trade in certain steel products is to be governed by Title III of the Partnership and Cooperation Agreement with Russia, with the exception of Article 15 thereof, and by the provisions of an agreement on quantitative arrangements, and (ii) when Russia accedes to the WTO, the Agreement will be terminated and the quantitative limits will be abolished, this Regulation repeals Regulation (EC) No 1342/2007 which had implemented the Agreement.
ENTRY INTO FORCE: this Regulation enters into force on 1 July 2012. The repeal of the Regulation in question takes place when Russia becomes a Member of the WTO.