Libya - General License No.11 with respect to Unblocking the Government of Libya, its Agencies, Instrumentalities, and Controlled Entities, and the Central Bank of Libya, With Certain Exceptions

Date issued: Dec. 16 2011

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TURBOFAC Commentary (1240 words)

Notes:

* [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1) General license relates to the second Libyan Sanctions Regulations (Part 570), not the first, Part 550, which was repealed in 2004.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...