Judgment of the Court (Eighth Chamber) of 15 December 2022 (requests for a preliminary ruling from the Cour de cassation – France) – Instrubel NV v Montana Management Inc., BNP Paribas Securities Services (C-753/21) and Montana Management Inc. v Heerema Zwijndrecht BV, BNP Paribas Securities Services (C-754/21)
(Joined Cases C-753/21 and C-754/21) 1
(Reference for a preliminary ruling – Common foreign and security policy – Regulation (EC) No 1210/2003 – Specific restrictions applicable to economic and financial relations with Iraq – Article 4 – Freezing of funds and economic resources belonging to the persons, bodies and entities associated with the regime of the former President Saddam Hussein – Article 6 – Transfer to the successor arrangements of the Iraq Development Fund – Ownership of frozen funds and economic resources)
Language of the case: French
Referring court
Cour de cassation
Parties to the main proceedings
Applicants: Instrubel NV (C-753/21), Montana Management Inc. (C-754/21)
Defendants: Montana Management Inc., BNP Paribas Securities Services (C-753/21), Heerema Zwijndrecht BV, BNP Paribas Securities Services (C-754/21)
Operative part of the judgment
Article 4(2) to (4) and Article 6 of Council Regulation (EC) No 1210/2003 of 7 July 2003 concerning certain specific restrictions on economic and financial relations with Iraq and repealing Regulation (EC) No 2465/96, as last amended by Council Regulation (EU) No 85/2013 of 31 January 2013,
must be interpreted as meaning that the frozen funds and economic resources remain, pending the decision to transfer them to the successor arrangements to the Development Fund for Iraq, the property of the natural and legal persons, bodies and entities associated with the regime of former President Saddam Hussein covered by the freezing.
____________
1 OJ C 95, 28.2.2022.