Financial Crime World

Here is the article rewritten in markdown format:

UN Security Council Takes Tough Stance Against Libya

New York, USA - The United Nations Security Council has passed a resolution imposing strict sanctions against Libya in response to the country’s continued brutal crackdown on protesters.

Resolution Details

  • The resolution was adopted unanimously and calls on all states to comply with their obligations under international law.
  • It prohibits the sale or transfer of arms and military equipment to Libya, freezes the assets of Libyan officials and entities linked to the government, and requires member states to report any inspections in Libya to the Security Council committee.

Inspections and Reporting

  • The resolution requires any member state undertaking an inspection in Libya to submit a written report to the Security Council committee monitoring the situation.
  • Reports must include details on the grounds for the inspection, the results, and whether cooperation was provided.
  • If prohibited items are found, the member state is required to submit a subsequent report with relevant details on the inspection, seizure, and disposal of the items.

Flights Ban

  • The resolution bans all flights by aircraft registered in Libya or owned or operated by Libyan nationals or companies, unless approved in advance by the Security Council committee.
  • Emergency landings are exempt from this ban.

Asset Freeze

  • All states are required to freeze the assets of Libyan authorities, individuals, and entities linked to the government.
  • Assets must be prevented from being made available for the benefit of the Libyan government or its affiliates.

Travel Restrictions

  • Individuals listed in an annex to the resolution are subject to travel restrictions, while entities listed are subject to asset freeze.

Panel of Experts

  • A panel of up to eight experts will be established to assist the Security Council committee in monitoring compliance with the resolution.
  • The panel will gather and analyze information from states, UN bodies, regional organizations, and other interested parties.

Review and Re-evaluation

  • The Security Council has reaffirmed its intention to keep the situation in Libya under continuous review and is prepared to strengthen, suspend or lift the measures imposed by this resolution if the Libyan government complies with its demands.