UK Issues Libya Sanctions Guidance

The United Kingdom’s Office of Financial Sanctions Implementation issued a Jan. 4 guidance on the U.K.’s financial sanctions against Libya, detailing the types of asset freezes the U.K. can enforce. The guidance also covers how the U.K. prohibits transactions involving Libyan oil aboard ships designated by the United Nations, how the sanctions affect subsidiaries of sanctioned entities and how the U.K. determines ownership.