Fried Frank > OFAC Provides Guidance to Investment Funds Regarding Blocked Interests of the Government of Libya and Sanctioned Libyan Parties
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OFAC Provides Guidance to Investment Funds Regarding Blocked Interests of the Government of Libya and Sanctioned Libyan Parties


By: Mario Mancuso, Jay R. Kraemer, Michael Ginsberg

 

In recent weeks, the U.S. has imposed economic sanctions on a number of parties related to the Libyan regime that have been determined to be responsible for human rights abuses in Libya.  On February 25, 2011, the President issued an Executive Order blocking the property and investments of numerous Libyan individuals and entities, including the Libyan Government and agencies under its control, the Central Bank of Libya, certain high-ranking government officials, and members of the family of Libyan ruler Muammar Qadhafi. This executive order requires the blocking of any property, including investments, that is in the U.S. or the possession of U.S. persons, as more fully described in our earlier Client Memorandum.

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