OFAC Amends Libyan Sanctions Regulations

On July 1, 2011, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued the Libyan Sanctions Regulations, 31 C.F.R. § 570, to implement Executive Order 13566 dated February 25, 2011. The regulations have been published in abbreviated form at this time for the purpose of providing immediate guidance to the public. OFAC intends to supplement this part of the regulations in the future. 

Effective July 1, 2011, sections 570.506 and 570.508 replace and supersede General License Nos. 3 and 2, respectively, which have been removed from OFAC's web site. General License Nos. 1B, 4, and 5, as well as certain statements of licensing policy, are not being incorporated into the Regulations at this time and remain available on OFAC's web site.