The Latest On Libya And Syria Sanctions Programs

Law360, New York (September 29, 2011, 1:28 PM EDT) -- Recently, the U.S. Treasury Department’s Office of Foreign Assets Control published and updated two new general licenses under the Libyan sanctions program, effectively authorizing most transactions involving the government of Libya (GOL) and Libyan state-owned petroleum companies. Read together, these licenses permit a broad range of transactions involving past and new business in Libya, subject to several significant limitations. We review the incremental relaxation of the Libyan sanctions below.

Sept. 9, 2011: General License 7 authorized transactions with certain entities owned by the Libyan National Oil...
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