On February 25, 201, President Obama signed Executive Order 13566, which blocks property and prohibits certain transactions related to Libya. Members of the immediate family of Colonel Muamar Gaddafi have been added to the OFAC’s SDN List. Additional persons and entities will be added. The Office of Foreign Assets Control issued a General License that authorizes transactions related to certain third-country Libyan-owned or controlled banks. Although the Libya is already subject to an arms embargo, the Directorate of Defense Trade Controls (DDTC) announced the immediate suspension of all export licenses for defense articles and technical data that have been issued under the ITAR. In addition, no ITAR exemptions may be utilized to export items subject to the ITAR to Libya. The U.S. Federal Aviation Administration (FAA) issued a notice to U.S. operators of civil aircraft to "exercise extreme caution" with respect to flight operations to or from Libya. U.S. companies using corporate aircraft to remove employees in Libya should check with their flight companies and the FAA when making arrangements. The United Nations Security Council adopted Resolution 1970 imposing sanctions and other actions on Libya.
Click HERE to view the Executive Order.
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