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ARTICLE · 12 OCTOBER 2004

International Client Alert - October 2004

Powell Goldstein LLP
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On September 20, 2004, President Bush signed an executive order terminating the national emergency that was declared in 1986 and lifting the Libya Sanctions Regulations. The order lifts the trade, commercial and travel sanctions in place against Libya, permits the import of petroleum products refined in Libya into the United States, and unblocks interests in blocked property as of 12:01 am on September 21, 2004.

United StatesInternational Law
Clif Burns
Clif Burns

Economic Sanctions On Libya Lifted On September 21, 2004

Significant Restrictions Remain in Place for Exports of Dual-Use Goods and Military Items.

On September 20, 2004, President Bush signed an executive order terminating the national emergency that was declared in 1986 and lifting the Libya Sanctions Regulations. The order lifts the trade, commercial and travel sanctions in place against Libya, permits the import of petroleum products refined in Libya into the United States, and unblocks interests in blocked property as of 12:01 am on September 21, 2004. In response to the order the U.S. Department of Treasury unfroze $1.3 billion in blocked assets. The remaining prohibitions on aviation services were also lifted, which allows for direct scheduled air service and charter passenger flights between the United States and Libya. In addition to lifting the sanctions, the President waived two statutory prohibitions enabling certain programs run by the Departments of Agriculture

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