International Law Advisory - Libya Sanctions

The Department of Commerce, Bureau of Industry and Security published its interim “Revision of Export and Reexport Restrictions on Libya” this morning in the Federal Register.  Accordingly, the BIS regulation and the associated Department of Treasury, Office of Foreign Assets Control general license relating to Libya (discussed in previous advisories) both are now in effect, and the U.S. embargo against Libya has been formally lifted.  

In addition, the Department of Treasury, Office of Foreign Assets Control today removed from its specifically-designated nationals (SDN) list the names of all individuals/entities who previously had been listed pursuant to the Libyan Sanctions Regulations.  A number of Libyan nationals remain on the SDN list, but they are listed because they have been designated by OFAC as terrorists, not because of their connections to Libya.  

A copy of the BIS Federal Register notice is attached.  Parties have until June 1, 2004 to provide BIS with comments on the interim BIS regulation.  Please feel free to contact Ed Krauland (202-429-8083) or David Lorello (202-429-6757) if you have any questions.