LIBYA SANCTIONS UPDATE: Latest HM Treasury Notice Reflects Ongoing Efforts to Combat Illicit Activities

Latest Update on Sanctions Against Libya

On February 10, 2022, the UK’s HM Treasury issued its latest notice regarding sanctions against Libya, updating the list of individuals and entities subject to restrictive measures.

Combating Illicit Activities in Libya

The international community is working together to combat illicit activities in Libya, including human rights abuses and terrorism financing. The sanctions regime aims to disrupt the financial networks of those responsible for these actions, ultimately bringing peace and stability to the region.

New Designations

According to the updated notice, several individuals and entities have been added to the list, including high-ranking officials and companies suspected of involvement in illicit activities. These designations are based on evidence of their involvement in:

• Human rights abuses
• Terrorism financing
• Other malicious activities

International Effort

The UK’s sanctions regime against Libya is part of a broader international effort to address the humanitarian crisis and political instability in the country. The EU, US, and other countries have also imposed sanctions on individuals and entities involved in illicit activities in Libya.

Compliance Guidance

In addition to the latest notice, HM Treasury has provided guidance on how individuals and businesses can comply with the sanctions regime, including:

• Prohibited activities
• Reporting requirements
• Penalties for non-compliance

Full Notice Available Online

The full text of the latest HM Treasury notice is available online.