US Treasury lifts sanctions on Libyan oil subsidiaries

OFAC removes ban on transactions with several Libyan oil company subsidiaries

newspumpjackoil
US Treasury allows trade with Libyan oil producers

The US Treasury has lifted sanctions on several Libyan oil subsidiaries, following international efforts to aid the National Transitional Council in rebuilding the country.

On Friday, the Office of Foreign Asset Control (OFAC) issued a licence reversing sanctions imposed in February when unrest first broke out in Libya. This new regulation allows US nationals to engage in any transactions involving entities owned or controlled by the Libyan National Oil Corporation, with the exception of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here