Further to the resolution, the Council welcomed the Panel’s report, which addressed the issues of diamonds, timber, targeted sanctions and arms and security in Liberia. That report (document S/2008/371) noted only minor violations of the Council’s arms embargo during the Panel’s mandate in the last year, mainly involving the small-scale transfer of ammunition and single-barrel rifles from Côte d'Ivoire and Guinea. It also noted that none of the approximately $20 million in diverted tax revenue of former President Taylor found as part of a sample test had been frozen.