OFAC Issues General License No. 7 for Libya
On September 9, 2011, the Office of Foreign Assets Control issued General License No. 7 pursuant to the Libyan Sanctions Regulations, 31 CFR Part 570, and Executive Order 13566 of February 25, 2011, "Blocking Property and Prohibiting Certain Transactions Related…
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to Libya." General License No. 7 authorizes U.S. persons to engage in any transactions involving entities owned or controlled by the Libyan National Oil Corporation, with the exception of Zueitina Oil Company, provided that such transactions do not involve the Libyan National Oil Corporation itself or any other persons whose property and interests in property are blocked. General License No. 7 available here.