UK Updates Libya Sanctions Guidance
The U.K.'s Office of Financial Sanctions Implementation on Sept. 30 updated its Libya sanctions guidance. The updated page includes amended sections on full and partial asset freezes, the Libyan Investment Authority and Libya Africa Investment Portfolio and ownership and ownership…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
and control. Further, the revised guidance includes a new section on exceptions and licenses. Such exceptions include not requiring a party to obtain a license for a relevant institution crediting a frozen account with interest due on the account, for a relevant institution crediting a frozen account where it gets funds transferred to that institution for crediting to the account and when funds are transferred to a relevant institution for crediting to an account held by a designated party in discharge of an obligation that came up before the party was designated.