Observations

The Security Council was concerned at the actions and policies of former Liberian president Charles Taylor, particularly the depletion and removal of the country's natural resources that undermined the country's transition to democracy. It stressed the need to return the misappropriated funds and assets to Liberia by the international community and expressed concern that Charles Taylor and associates still had control over them.

Acts

Acting under Chapter VII of the United Nations Charter, the council the assets of Charles Taylor, his wife and his son Charles McArther Emmanuel in addition to associates and members of the regime were frozen, aside from humanitarian exceptions.^[3] Other sanctioned individuals were to be determined by the committee established in Resolution 1521. The committee was asked to identify and update assets or resources controlled by Charles Taylor his close associates and to post such information on its website. The measures would be reviewed by 22 December 2004.

Finally, the resolution expressed the council's intention to consider whether or how to make the frozen funds available to benefit the Liberian people, once the new Liberian government had established transparent accounting and auditing mechanisms. Taylor's funds within Liberia were frozen in mid-October 2004.^[4]