OFAC General License Authorizes Transactions With Third-Country Libyan Banks
The Office of Foreign Assets Control has issued General License No. 1 under the President's recent Executive Order, "Blocking Property and Prohibiting Certain Transactions Related to Libya." General License No. 1 authorizes transactions with financial institutions owned or controlled by…
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the Government of Libya that are organized under the laws of a country other than Libya. (See ITT's Online Archives or 02/28/11 news, 11022702, for BP summary of the EO.)