19/01/2010 (Agence Europe) - On Monday 18 January, the European Commission presented to the EU Council of Ministers a draft regulation aimed at extending specific restrictions applicable to economic and financial relations with Iraq until 31 December 2010. Restrictions against Iraq were imposed by EC Regulation 1210/2003 in 2003 and have already been renewed several times. Regulation 1210/2003, among other things, made specific arrangements concerning payments for Iraqi exports of petroleum, petroleum products, and natural gas, and concerning immunity from legal proceedings of certain Iraqi assets. The initiative taken on Monday by the Commission follows the adoption by the UN Security Council, on 21 December 2009, of a resolution aimed at extending these specific arrangements until 31 December 2010. (O.L./transl.jl)