OFAC Libya sanctions

The U.S. Treasury's Office of Foreign Assets Control (OFAC) administers economic sanctions targeting Libyan persons, entities, and assets under authorities including the International Emergency Economic Powers Act (IEEPA), the National Emergencies Act, and successive executive orders. The modern program traces back to Executive Order 12543 (1986) issued by President Reagan, which declared a national emergency over Libyan support for terrorism, followed by E.O. 12544, which blocked Libyan government property in the United States.

After the 2003 Libyan commitment to dismantle WMD programs and resolve the Pan Am 103 (Lockerbie) case, the Bush administration terminated those sanctions in 2004, unblocking most Libyan assets.

A new program was created in response to the 2011 uprising and Qadhafi regime violence:

• E.O. 13566 (February 25, 2011) blocked the property of the Government of Libya, the Central Bank of Libya, the Libyan Investment Authority, and Mu'ammar Qadhafi and family members, freezing roughly $30 billion in U.S.-based Libyan state assets — the largest asset block in OFAC history at the time.
• The order implemented obligations flowing from UN Security Council Resolutions 1970 and 1973 (2011), which imposed an arms embargo, asset freeze, and travel ban.

Most blocked Libyan sovereign assets were later unblocked as the National Transitional Council and successor governments were recognized, but designations against specific individuals tied to the former regime, post-2011 spoilers, human traffickers, and oil smugglers remain in force. OFAC continues to add Libya-related Specially Designated Nationals (SDNs) under overlapping authorities such as the Global Magnitsky program and counter-terrorism E.O. 13224, particularly for figures linked to migrant smuggling networks and militia financing. The Libyan Sanctions Regulations are codified at 31 C.F.R. Part 570.