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ARTICLE · 09 MARCH 2011

OFAC Updates Strict U.S. Sanctions On Libyan Regime

Fried Frank Harris Shriver & Jacobson
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On March 4, 2011, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License No. 1A, refining the scope of strict sanctions that had been previously imposed by the United States upon the Libyan regime on February 25, 2011.

United StatesInternational Law
Mario Mancuso
Mario Mancuso
Jay Kraemer
Jay Kraemer

Introduction

On March 4, 2011, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License No. 1A, refining the scope of strict sanctions that had been previously imposed by the United States upon the Libyan regime on February 25, 2011. This memorandum describes the contents of General License No. 1A, and the scope of U.S. sanctions on the Libyan regime as of March 7, 2011.

For additional background on U.S., UN, and EU Libya-related sanctions, please refer to our previous client memorandum.

President Obama's Executive Order

On the evening of Friday, February 25, 2011, President Obama issued an Executive Order freezing the assets of individuals and entities determined to be responsible for human rights abuses in Libya.

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