Libya > US Govt blocks Libyan enterprises

Uncle Sam blocks property of another 30 Libyan enterprises

Fri, 2011-05-06 08:51 AM

By: Jacob Goodwin

Even as it is participating in the NATO-led military campaign against the Qadaffi regime in Libya, the Obama administration is tightening the financial screws against Qadaffi’s supporters in the Libyan banking, investment, oil and gas, and airline industries.

Between March 15 and March 22, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) blocked the property of 30 different enterprises in these sectors. Fifteen of the organizations are involved in the oil and gas industry, ranging from the National Oil Corp. to the Waha Oil Company, according to a notice published in the Federal Register on May 5.

OFAC has also blocked the property of eight banking organizations, six investment firms and one airline, called Afriqiyah Airways.

The U.S. order blocks any property in the United States, that comes into the United States, that comes into the possession of any U.S. person, or in the possession of any branch of the Libyan government.

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