Guidance

Financial sanctions, Libya

Libya is currently subject to financial sanctions. This document contains a current list of designated persons.

Documents

Details

Sanctions

Libya is currently subject to financial sanctions put in place by the EU and the UN. The UN introduced Resolution 1970 (2011) which was adopted by the EU. The EU then put in place additional, autonomous financial sanctions.

Implementation date

Financial sanctions were imposed on Libya in 2011 under UN Resolution UNSCR 1970 (2011) and Council Regulation (EU) No 204/2011.

In 2016, the EU adopted Council Regulation (EU) No 2016/44 which combined existing and new restrictive measures.

Context

The Libya regime imposes asset freeze financial sanctions on those involved or complicit in serious human rights abuses against Libyan civilians and facilities. Abuses include planning, commanding, ordering or conducting attacks that violate international laws.

Asset freezing activity also helps protect Libyan state funds (misappropriated during the former regime of Muammar Qadhafi) which could be used to threaten the peace, stability or political transition of Libya.

Exceptions

Annex VI

All individuals and entities listed under the EU Regulation are subject to a full asset freeze, except for two entities listed in Annex VI:

  • Libyan Investment Authority (LIA)
  • Libyan Africa Investment Portfolio (LAIP)

All funds and economic resources belonging to – or owned, held or controlled by – these entities, and located outside Libya on 16 September 2011, are subject to an asset freeze.

However, under the terms of the EU Regulation, there is no prohibition on making new funds or economic resources available to these entities.

LIA and LAIP subsidiaries

UN Implementation Assistance Notice #1 dated 7 March 2012 provides that subsidiaries of LIA and LAIP are not subject to the asset freeze. However, please note that several subsidiaries of the LIA and the LAIP are now listed independently under EU autonomous financial sanctions. Please consult the list of designated persons and entities under this regime to review the full list of the subsidiaries of LIA and LAIP subject to financial sanctions.

UN regulations

The UN Resolution, UNSCR 1970 (2011), is available online along with other relevant UN Resolutions.

EU regulations

You can view Council Regulation (EU) No 2016/44 on restrictive measures in Libya online.

You can find the most recent amendments to the Regulation by searching on EUR-Lex, an online database that provides free access to EU law, international agreements and other public documents:

  • enter the Regulation number into the search bar
  • open the relevant page
  • click ‘document information’

Current UK regulations

Published 24 April 2013
Last updated 29 November 2018 + show all updates
  1. Updated with 'Latest HM Treasury notice, 29/11/2018 (Libya) (Reg 2018/1863)'.
  2. Updated with Latest HM Treasury notice, 19/11/2018 (Libya).
  3. Updated with 'latest HM Treasury Notice 26/10/2018 Libya Corrigenda'.
  4. Updated with 'Latest HM Treasury notice, 25/09/2018 (Libya) (Reg 2018/1285)'.
  5. Updated with 'Latest HM Treasury Notice, 19/09/2018 (Libya) (Reg 2018/1245)'.
  6. Updated with 'Latest HM Treasury notice, 12/09/2018, Libya'.
  7. Updated with latest HM Treasury notice 01/08/2018 (Libya) (Reg 2018.1073)
  8. Updated with latest HM Treasury notice, 15/06/2018 (Libya) (Reg 2018/870).
  9. Updated with latest HM Treasury notice, 08/06/2018, Libya
  10. Updated with latest HM Treasury notice, 15/05/2018, (Libya) (Reg 2018/711)
  11. Details updated to provide more clarity.
  12. Updated with latest HM Treasury notice, 12/02/2018, (Libya) (Reg 2018/200)
  13. Updated with latest HM Treasury Notice, 05/02/2018, (Libya) (Reg 2018/166)
  14. Updated with latest HM Treasury notice, 26/01/2018, Libya (Reg 2018/126)
  15. Updated with latest HM Treasury Notice, 08/12/2017, Libya (Reg 2017/2260)
  16. Updated with latest HM Treasury Notice, 09/11/2017, Libya (Reg 2017/2006)
  17. Updated with latest HM Treasury Notice, 31/10/2017, Libya (Reg 2017/1974)
  18. Updated with latest HM Treasury Notice, 11/08/2017, Libya (Reg 2017/1456)
  19. Updated with latest HM Treasury Notice 07/08/2017, Libya (Reg 2017_1423)
  20. Updated with Latest HM Treasury Notice, 03/08/2017, Libya
  21. Updated with latest HM Treasury Notice, 25/07/2017, Libya
  22. Formatting amendments made to latest notice.
  23. Updated with latest HM Treasury notice, 23/03/2017, Libya (Reg 2017/489)
  24. Updated list due to notice - 04/10/2016 Libya (Reg 2016/1752)
  25. Updated: HM Treasury notice, 22/09/2016, Libya (Reg 2016/1687)
  26. Updated with HM Treasury notice, 05/08/2016 Libya (Reg 2016/1334)
  27. Updated with 05.05.2016 Commission Implementing Regulation (EU) No 2016/690
  28. Updated with latest returns
  29. link to EU regulations added on page itself - no update to notices
  30. Updated pdf for latest notice.
  31. Updated with new notice: (Reg 2016/466)
  32. New notice added - Libya (revocation of general licence)
  33. Page updated to reflect some changes to recently adopted EU Regulation.
  34. Notice 04/08/15 Libya, Amendments to Annex III following Council Implementing Regulation (EU) 2015/1323.
  35. Update to text on page, no changes to lists
  36. Updated list to reflect 2 new notices.
  37. New HMT notice
  38. Updated to include Libya (Judgement of the General Court)
  39. Updated due to notice Libya (Reg 1103/2014)
  40. added notice: Libya (Reg 792/2014)
  41. added notice (Reg 689/2014)
  42. added Notice Libya 300114 (Reg 74/2014)
  43. added link to 20.01.2013 Council Regulation (EU) No 45/2013
  44. First published.