The EU had imposed sanctions and restrictive measures directed against designated Libyan authorities, entities and individuals which have contributed towards the use of violence against civilians by virtue of Regulation (EU) No 204/2011 concerning restrictive measures in view of the situation in Libya. The sanctions include an arms embargo, a no-fly zone, a travel ban and the freezing of funds, assets and economic resources of individuals or entities connected to the Gaddafi regime.
The EU is amending the sanctions imposed in order to reflect the recent developments in Libya. EU Regulation No 872/2011 of 1 September 2011 lists 28 entities which have been deleted from the list of sanctioned entities as set out in EU Regulation 204/2011 and are thus no longer subject to restrictive measures, including the freezing of assets. Other Regulations such as No 925/2011 of 15 September 2011 and Regulation No 941/2011 of 22 September 2011 have been recently adopted in order to amend the list of sanctioned entities and persons.
Further to UN Security Council Resolution 2009 (2011), the EU has adopted Regulation No 965/2011 of 28 September 2011 which provides for new exemptions from the arms embargo, adjustments to the assets freeze of certain Libyan entities and for the possibility of making funds and economic resources available to such entities under certain conditions. The Regulation also removes the Central Bank of Libya (CBL), the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment Portfolio from the list of sanctioned entities.
