The European Parliament has approved new regulations on the marketing and production of genetically modified organisms within the European Union. The EU assembly voted by 338 to 52 on Wednesday, with 85 abstentions, to approve the new rules on granting permits for GMOs to be grown and used in the 15 EU member states. Under the new law, the potential risk of any new GM product will have to be assessed. Biotechnology companies will also be required to monitor continuously the effect of GM crops on human health and the environment. Europe has imposed a de facto moratorium on the licensing of new GM products for the past two years.