No L 295/4 Official Journal of the European Communities 30. 11. 93 COUNCIL REGULATION (EC) No 3275/93 of 29 November 1993 prohibiting the satisfying of claims with regard to contracts and transactions the performance of which was affected by the United Nations Security Council Resolution 883 (1993) and related resolutions THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particualr Article 228a thereof, Having regard to the common position adopted by the Council of the European Union on 22 November 1993, Having regard to the proposal of the Commission, Whereas, under Regulation (EEC) No 945/92 (), and (EC) No 3274/93 () the Community has taken measures to prevent certain trade between the Community and Libya ; Whereas, as a consequence of the embargo against Libya, the economic operators in the Community and third countries are exposed to the risk of claims by Libya; Whereas the United Nations Security Council has adopted Resolution 883 (1993) of 11 November 1993 which, in its paragraph 8, deals with claims by Libya in relation to contracts and transactions the performance of which was affected by measures imposed by the Security Council pursuant to Resolution 883 (1993) and related resolutions ; Whereas it is necessary to protect operators permanently against such claims and to prevent Libya from obtaining compensation for the negative effects of the embargo; Whereas the Community has agreed that Libya must comply in full with the provisions of paragraph 8 of United Nations Security Council Resolution 883 (1993) and considers that, in deciding whether to reduce or lift measures taken against Libya, particular account must be taken of any failure by Libya to comply with paragraph 8 of Resolution 883 (1993), HAS ADOPTED THIS REGULATION : Article 1 For the purposes of this Regulation : 1. ‘contract or transaction’ means any transaction of whatever form and whatever the applicable law, whether comprising one or more contracts or similar () OJ No L 101, 15. 4. 1992, p. S3. (9) See page 1 of this Official Journal. obligations made between the same or different parties ; for this purpose ‘contract’ includes a bond, financial guarantee and indemnity or credit whether legally independent or not and any related provision arising under or in connection with the transaction ; . ‘claim’ means any claim, whether asserted by legal proceedings or not, made before or after the date of entry into force of this Regulation, under or in connec- tion with a contract or transaction, and in particular includes : : (a) a claim for performance of any obligation arising under in connection with a contract or transaction ; (b) a claim for extension or payment of a bond, finan- cial guarantee or indemnity of whatever form; (c) a claim for compensation in respect of a contract or transaction ; (d) a counter-claim ; (e) a claim for the recognition or enforcement, inclu- ding by the procedure of exequatur, of a judgment, an arbitration award or an equivalent dec:slon, wherever made or given ; . ‘measures decicided on pursuant to United Nations Security Council Resolution 883 (1993) and related resolutions’ means measures of the United Nations Security Council or measures introduced by the Euro- pean Communities or any State, country or interna- tional organization in conformity with, as required by, or in connection with the implementation of relevant decisions of the United Nations Security Council, or any action authorized by the United Nations Security Council, in respect of the prevention of certain trade with Libya; . ‘person or body in Libya’ means (a) the Libyan State or any public authority thereof ; (b) any Libyan national ; (c) any body having its registeréd office or head- quarters in Libya; (d) any body controlled, directly or indirectly, by one or more of the abovementioned persons or bodies ; (e) any person claiming through or for the benefit of any person or body mentioned under (a), (b), (c) or (d) above.