EU Sanctions against Libya – Listing of Libyan Ports

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On 7 June 2011, the Council of the European Union agreed Council Decision 2011/332/CFSP. The Decision set out the Council's intention to freeze the assets of six port authorities in Libya. The asset freeze took effect on the publication of Council Regulation (EU) No 572/2011 (the "Regulation") on 17 June 2011.

The designated port authorities are as follows:

• Port authority of Tripoli

• Port authority of Al Khoms

• Port authority of Brega

• Port authority of Ras Lanuf

• Port authority of Zawia

• Port authority of Zuwara

No funds or economic resources should be made available, directly or indirectly to, or for the benefit of, the designated ports. Practically, this means that it is not possible to pay port dues or other fees or disbursements to these listed port authorities.

Ports are not new sanctions targets. Abidjan and San Pedro in Ivory Coast were designated by the EU in January 2011, although they have now been delisted.

Please see full alert below for more information.

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Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, International Trade Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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