EU takes steps to boost oil pollution fund
The European Commission has issued legislative proposals to enable entry into force of a new international compensation fund for oil pollution damage, quintupling its maximum payout to some €920m. Members of the International maritime organisation agreed to the so-called supplementary fund in May (EED 16/05/03). EU governments will have to act quickly on the proposal if they are to meet their own objective of making the fund operational by the end of the year. See press release and Commission proposal (COM(2003) 534.
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