COMMISSION IMPLEMENTING REGULATION (EU) No 1262/2011
of 5 December 2011
amending Annex V to Council Regulation (EC) No 1342/2007 as regards the quantitative limits of certain steel products from the Russian Federation
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Council Regulation (EC) No 1342/2007 of 22 October 2007 on administering certain restrictions on imports of certain steel products from the Russian Federation (1), and in particular Article 5 thereof,
Whereas:
(1)
The European Community and the Russian Federation signed an agreement on trade in certain steel products on 26 October 2007 (2) (the Agreement).
(2)
Article 3(3) of the Agreement provides that unused quantities for a given year may be carried over to the following year up to a maximum of 7 % of the relevant quantitative limit set out in Annex II to the Agreement.
(3)
Pursuant to Article 3(4) of the Agreement transfers between product groups may be made up to 7 % of the quantitative limit of a given product group.
(4)
Russia has notified the European Union of its intent to make use of the provisions in Article 3(3) and (4) within the time limits set by the Agreement. It is appropriate to make the necessary adjustments to the quantitative limits for the year 2011 resulting from Russia’s request.
(5)
Article 10 of the Agreement stipulates that with each yearly renewal, quantities in every product group shall be increased by 2,5 %.
(6)
Regulation (EC) No 1342/2007 should be amended accordingly,
HAS ADOPTED THIS REGULATION:
Article 1
Annex V to Regulation (EC) No 1342/2007 is replaced by the text set out in the Annex to this Regulation.
Article 2
This Regulation shall enter into force on the day following its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 5 December 2011.