16. 7. 94 Official Journal of the European Communities No L 182/1 (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 1733/94 of 11 July 1994 prohibiting the satisfying of claims with regard to contracts and transactions the performance of which was affected by the United Nations Security Council Resolution 757(1992) and related resolutions THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty- establishing the European Community and in particular Article 228a thereof, Having regard to the proposal from the Commission, Having regard to Council Decision 94/366/PESC of 13 June 1994 on the common position defined by the Council on the basis of Article J.2 of the Treaty on Euro- pean Union concerning prohibition of the satisfaction of the claims referred to in paragraph 9 of United Nations Security Council Resolution No 757(1992) (!), Whereas, under Regulations (EEC) No 1432/92 (3, (EEC) No 2656/92 (*) and (EEC) No 990/93 (¥), the Community has taken measures to prevent trade between the Com- munity and the Federal Republic of Yugoslavia (Serbia and Montenegro) ; Whereas, as a consequence of the embargo against the Federal Republic of Yugoslavia (Serbia and Montenegro), economic operators in the Community and third coun- tries are exposed to the risk of claims by the Federal Republic of Yugoslavia (Serbia and Montenegro) ; Whereas the United Nations Security Council has adopted Resolution 757(1992) of 30 May 1992 which, in its paragraph 9, deals with claims by the Federal Republic of Yugoslavia (Serbia and Montenegro) in relation to contracts and transactions the performance of which was affected by measures imposed by the Security Council pursuant to Resolution 757(1992) and related resolutions ; Whereas it is necessary to protect operators permanently against such claims and to prevent the Federal Republic () OJ No L 165, 1. 7. 1994, p. 1. () OJ No L 151, 3. 6. 1992, p. 1, Regulation repealed by Regula- tion (EEC) No 990/93 ((gj No L 102, 28. 4. 1993, p. 14). () OJ No L 266, 12. 9. 1992, p. 27, Regulation repealed by Re- gulation (EEC) No 990/93 (O] No L 102, 28. 4. 1993, p. 14). () OJ No L 102, 28. 4. 1993, p. 14. of Yugoslavia (Serbia and Montenegro) from obtaining compensation for the negative effects of the embargo, 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 obligations made between the same or different patties ; 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 ; 2. ‘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 or in connection with a contract or transac- tion ; (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 counterclaim ; (¢) a claim for the recognition or enforcement, inclu- ding by the procedure of exequatur, of a judgment, an arbitration award or an equivalent decision wherever made or given;