International Law Advisory - Termination of Libyan Sanctions by Presidential Executive Order

This is to advise you that on Monday, September 20, 2004, the President issued an Executive Order terminating the national emergency declared against  Libya.  The Executive Order rescinds the following:

• Executive Order 12543 of  January 7, 1985, which declared a national emergency as a result of the Government of Libya’s actions and policies. 
• Executive Order 12544, signed  January 8, 1986, and Executive Order 12801 of  April 15, 1992, both of which imposed sanctions against  Libya in response to the declaration of the national emergency.
• Executive Order 12538, signed  November 15, 1985, which prohibited the importation of petroleum from  Libya.

As a result of the President’s action, the provisions of the OFAC-administered Libyan Sanctions Regulations (“LSR”), 31 C.F.R. § 550, will be removed, and all property and interests in property that were blocked pursuant to those regulations will be unblocked.  The President’s action does not, however, affect the export controls regime for  Libya that was implemented earlier this year by the Department of Commerce. 

The effective date of the President’s order is  12 a.m.,  September 21, 2004.  We will continue to keep you apprised of developments regarding Libyan trade restrictions.  If you have any questions, please contact  Edward Krauland at202-429-8083 or  David Lorello at202-429-6757.