The European Parliament approved a regulation on
4 October that will enable EU Member States to freeze terrorist
accounts across Europe and restrict the financing of terrorism.
The European Commission proposed a regulation on 2 October that
EU Member States block all funds held by organisations and
individuals suspected of supporting and financing terrorist
The proposal to block terrorist funds was approved by the
MEPs by 417 votes in favour, 44 against and 18 abstentions.
The Parliament said that the regulation should expire at
the end of 2003 and should be reviewed within a year.
Several Member States have already
frozen terrorist accounts after the 11 September attacks on
the US. Britain, France and Germany are reported to have
frozen more than 90 million euro worth of terrorist
accounts. The regulation will make that mandatory for all
the EU countries.