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United Nations, European Union, and the United States ease economic sanctions against Libya

19 September 2011

Economic Sanctions Alert

On Friday 16 September 2011, the United Nations (UN) Security Council adopted Regulation 2009 (2011), which paves the way for further lifting of economic sanctions against Libya, most notably by removing the Libyan National Oil Corporation and Zuietina Oil Company from the sanctions list. In addition, it modifies the asset freeze on the Central Bank of Libya, the Libyan Arab Foreign Bank, the Libyan Investment Authority and the Libyan Africa Investment Portfolio, and entities they own or control. These financial institutions are now permitted to enter into new financial transactions as of 16 September 2011 with no restrictions.



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