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Case No. LI2-723
Genna Shipping & Stevedoring Co.
27-31 Hatzikyriakou Ave.
Piraeus 185 38 Greece
Attn: [ ]
Dear Madam:
This replies to your correspondence dated November 10, 2010; to the Office of Foreign Assets Control ("OFAC"), regarding a payment from Norient Product Pool APS to Germa Shipping & Stevedoring Co. that was blocked pursuant to Executive Order 13566 of February 25, 2011, Blocking Property and Prohibiting Certain Transactions Related to Libya, or the Libyan Sanctions Regulations, 31 C.F.R. Part 570. Please be advised that on December 16, 2011, OFAC issued General License No. 11 (“GL 11"), unblocking 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 or the Libyan Sanctions Regulations, 31 C.F.R. part...
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1) At the of the blocking of the funds transfer, which appears to have involved foreign originators and beneficiaries, the entire Government of Libya was blocked. See Libya - General License No.11. When a license unblocks property as was the case with GL 11, OFAC will not issue specific licenses for the retrieval of previously blocked funds. (See 501.801 - "It is the policy of OFAC not to grant applications for specific licenses authorizing transactions to which the provisions of a general license are applicable").