Libya Asset Freeze and Sanctions Update (September 2011)

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Following the National Transitional Council's installation as the de facto governing force in Libya, HM Treasury has amended its asset freezing provisions.

The move is good news for the Libiyan people and British business too. Restrictions on payments, debt/asset recovery and trade can now be lifted.

33 Chancery Lane have been directly instructed by UK businesses to advise on recovery solutions and sanctions.

Although the list has been relaxed in parts, it is still very important to seek advice when dealing with any transaction, individual or person subject to the restrictions. Breaching the provisions may result in a custodial sentence and high value confiscation proceedings.

Contact Martin Adams for further information.

Deletions from the Consolidated Prohibition List as of 02 September 2011.

  1. AL-SHARARA OIL SERVICES COMPANY a.k.a: (1) Al Sharara, (2) Al-shahara oil services company, (3) Al-Sharara al-Dhahabiya Oil Services Company, (4) Sharara, (5) Sharara Oil Services Company. Address: Al-Saqa District, Beside al-Saqa Mosque, Tripoli, Libya.
  2. AZZAWIA REFINING a.k.a: Azawiya Refining. Address: PO Box 6451, Tripoli, Libya
  3. BREG. Address: Head Office, Azzawia coast road, PO Box Azzawia 16649
  4. ECONOMIC AND SOCIAL DEVELOPMENT FUND (ESDF).  Address: Qaser Bin Ghasher Road, Salaheddine Cross, BP 93599, Tripoli, Libya
  5. FIRST GULF LIBYAN BANK. Address: The 7th of November Street, PO Box 81200, Tripoli, Libya
  6. GUMHOURI BANK. Address: Gumhouria Bank Building, Omar Al Mukhtar Avenue, Giaddal Omer Al Moukhtar, PO Box 685, Tarabulus, Tripoli, Libya.
  7. HAROUGE OIL OPERATIONS a.k.a: (1) Harouge, (2) Veba Oil Libya GMBH. Address: Al Magharba Street, PO Box 690, Tripoli, Libya
  8. JAWABY PROPERTY INVESTMENT LIMITED. Address: Cutlers Farmhouse, Marlow Road, Lane End, High Wycombe, Buckinghamshire,  United Kingdom
  9. LIBYAN ARAB AIRLINES. Address: PO Box 2555, Haiti Street, Tripoli, Libya
  10. MABRUK OIL OPERATIONS. Address: Dat El-Emad 2, Ground Floor, PO Box 91171, Tripoli, Libya
  11. MEDITERRANEAN OIL SERVICES COMPANY a.k.a: Mediterranean Sea Oil Services Company. Address: Bashir El Saadawy Street, PO Box 2655, Tripoli, Libya
  12. MEDITERRANEAN OIL SERVICES GMBH a.k.a: (1) MED OIL Office Duesseldorf, (2) MEDOIL. Address: Werdener strasse 8, Duesseldorf, Nordhein - Westfalen, Germany, 40227.
  13. NATIONAL COMMERCIAL BANK. Address: Orouba Street, AlBayda, Libya.
  14. NATIONAL OIL FIELDS AND TERMINALS CATERING COMPANY. Address: Airport Road Km 3, Tripoli, Libya
  15. NATIONAL OIL WELLS AND DRILLING AND WORKOVER COMPANY. a.k.a: (1) National Oil Wells Chemical and Drilling and Workover Equipment Co. (2) National Oil Wells Drilling and Workover Equipment Co. Address: National Oil Wells Drilling and Workover Company Building, Omar Al Mokhtar Street, PO Box 1106, Tarabulus, Tripoli, Libya.
  16. NORTH AFRICAN GEOPHYSICAL EXPLORATION COMPANY (NAGECO) a.k.a: North African Geophysical Exploration. Address: Airport Road, Ben Ghasir 6.7 KM, Tripoli, Libya.
  17. PORT AUTHORITY OF AL KHOMS
  18. PORT AUTHORITY OF BREGA
  19. PORT AUTHORITY OF RAS LANUF
  20. PORT AUTHORITY OF TRIPOLI
  21. PORT AUTHORITY OF ZAWIA
  22. PORT AUTHORITY OF ZUWARA
  23. RAS LANUF OIL AND GAS PROCESSING COMPANY (RASCO). Address: Ras Lanuf Oil and Gas Processing Company Building, Ras Lanuf City, PO Box 2323, Libya.
  24. SAHARA BANK. Address: Sahara Bank Building, First of September Street, PO Box 270, Tarabulus, Tripoli, Libya.
  25. SIRTE OIL COMPANY. Address: Sirte Oil Company Building, Marsa Al Brega Area, PO Box 385, Tarabulus, Tripoli,  Libya.
  26. TAMOIL AFRICA HOLDINGS LIMITED a.k.a: Oil Libya Holding Company.
  27. TEKXEL LIMITED. Address: One Wood Street, London, United Kingdom.
  28. WAHA OIL COMPANY. Address: (1) Office location - Off Airport Road, Tarabulus, Tripoli, Libya. (2) Postal address - PO Box 395, Tripoli, Libya