Ofac Libya Sanctions Lifted, Background On July 1, 2011, OFAC issued the Libyan Sanctions Regulations, 31 CFR part 570 (76 FR 38562, July 1, 2011) (the ‘‘Regulations’’), to implement Executive Order (E. This action underscores the United States’ commitment to ensuring that U. " Consistent with the United Nations Security Council resolution adopted on September 16, 2011, General License No. In October, European Union foreign ministers followed suit, agreeing to end sanctions, including an arms embargo. Aliases: Addresses: The president's administration showed few signs of offering easy progress, but the removal of crippling sanctions give Syrians a chance to chip away at their $400 billion rebuild. Oct 3, 2022 · Due to the number of regulatory sections being updated or added, OFAC is reissuing the Libyan Sanctions Regulations in their entirety. The UN imposed sanctions on Libya in 2011. The measures include asset freezes and prohibitions on transactions to promote peace, security, and democratic governance in Libya. To search for a specific U. Treasury's Office of Foreign Assets Control (Ofac) said the change would take effect on Tuesday, August 26. sanctions on Syria, effective July 1, 2025. Libya has for the first time been allowed by the United Nations to reinvest proceeds from the $70 billion of assets bought with its oil wealth since sanctions were imposed in 2011. The US Treasury on Monday said it is removing Syria from its sanctions list, officially allowing American companies to do business with Damascus. These transactions remain prohibited. WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 24 to expand authorizations for activities and transactions in Syria following December 8, 2024. On September 19, 2011, OFAC issued General License No. After World War I, interest revived. a. KEY POINTS The decision and the regulation, which have been amended numerous times, include a range of bans and restrictions including: Aliases: Addresses: * U. The sanctions relief is part of the effort to ease the flow of humanitarian aid into Syria. k. 1 to part 774. Select up to three search categories and corresponding keywords using the fields to the right. O. On June 30, the President issued an Executive Order "Providing for the Revocation of Syria Sanctions" that removes U. state, please use the two letter U. The following sanctions authorities are no longer in effect with respect to Sudan: Libya, Sudan, and Somalia are OFAC countries in Africa that cannot do business with American-based companies. and Libya will be permitted, including the importation and exportation of goods or services, subject to export controls maintained by the Department of Commerce. economic sanctions. This section does not authorize any transactions prohibited by 5 550. interests. Date Updated: August 21, 2024. Explore the sanctions imposed on Libya, including delisted entities and their implications, on this comprehensive page. air carriers, code-sharing involving flights to or from Libya, or flights to or from the United States by Libyan air carriers. This rule is effective October 3, 2022. 807 of this chapter describes the procedures to be followed by persons seeking administrative reconsideration of OFAC's determination that they fall within the definition of the term Government of Libya. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued four new Syria Frequently Asked Questions (FAQs 1220-1223). Here's a look at countries with U. R. sanctions on Libya are limited to a prohibition on dealings with persons placed on the Specially Designated Nationals and Blocked Persons (the “SDN List”) pursuant to Executive Order 13566 of February 25, 2011, and Executive Order 13726 of April 19, 2016. (Archived Content)WASHINGTON – The U. United States trade policy was entirely a matter of economic policy. Below OFAC has issued guidance and statements on specific licensing policies as they relate to the Libya Sanctions. On May 13, 2025, President Trump announced he would lift sanctions on Syria to create a new relationship between Syria and the United States. The EU, UK, and US implement UN and autonomous sanctions on Libya. This guidance assists people in implementing and complying with the regulations. E. Refer to the Help section for more detailed instructions. The Iran Sanctions, Accountability, and Human Rights Act of 2012 (H. It followed pressure from Italy, which wanted sanctions lifted so that it could supply Libya with hi-tech equipment intended to curb illegal migration. Jul 10, 2025 · As required by section 43 of the Sanctions and Anti-Money Laundering Act 2018 (‘the Sanctions Act’), the Secretary of State for Foreign, Commonwealth and Development Affairs has provided this In response to the use of force against civilians in the Libyan Arab Jamahiriya in 2011 by Colonel Gaddafi’s government, the UN imposed sanctions on Libya, consisting of an arms embargo, asset freezes, and travel bans.