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Office of Foreign Assets Control
Libyan Sanctions Regulations 31 C.F.R. Part 570
Executive Order 13566 of February 25, 2011
Blocking Property and Prohibiting Certain Transactions Related to Libya
GENERAL LICENSE NO. 11
General License Unblocking the Government of Libya, its Agencies, Instrumentalities, and Controlled Entities, and the Central Bank of Libya, With Certain Exceptions
(a) All property and interests in property of the Government of Libya, its agencies, instrumentalities, and controlled entities, and the Central Bank of Libya blocked pursuant to Executive Order 13566 of February 25, 2011, or the Libyan Sanctions Regulations, 31 C.F.R. part 570, are unblocked, subject to the limitation set forth in paragraph (b) of this general license.
(b) All funds, including cash, securities, bank accounts, and investment accounts, and precious metals of the Libyan Investment Authority...
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* [2022-10-03 update - this GL was implemented into the Libyan Sanctions Regulations at 570.512 and removed from OFAC's website]
1) General license relates to the second Libyan Sanctions Regulations (Part 570), not the first, Part 550, which was repealed in 2004. This GL has not been incorporated in the part 570 LSR.
2) The Libyan Investment Authority ("LIA") and other Government of Libya (“GOL”) entities were unblocked only prospectively by General License No. 8. The LIA was removed from the SDN list in November, 2011, but pursuant to a special removal notice specifying that only prospective transactions with the entities removed were permitted, notwithstanding the SDN list removals. When...