US sanctions int’l network smuggling oil from Libya to Europe

The US sanctioned Monday six individuals, 24 entities and seven vessels for “threatening the peace, security or stability of Libya through the illicit production, refining, brokering, sale, purchase, or export of Libyan oil or for being owned or controlled by designated persons.” The Department of Treasury stressed in a statement “oil smuggling undermines Libya’s sovereignty, fuels the black market and contributes to further instability in the region while robbing the population of resources that are rightly theirs.” It shed light on United Nations Security Council Resolutions (UNSCRs) 2146 (2014) as modified by 2362 (2017) which condemns “illicit exploitation of Libyan oil.” Treasury Undersecretary for Terrorism and Financial Intelligence Sigal Mandelker said in this regard that the Treasury is taking action “to expose and end fuel smuggling and other illicit activities by those who are exploiting Libyan oil, petroleum products, and other natural resources for their own personal gain.” Mandelker added “we are disrupting this illicit and destabilizing activity by isolating the individuals, companies, and vessels engaged in oil smuggling from the global financial system.” “As a result of today’s actions, any property or interest in property of those designated by OFAC (Treasury’s Office of Foreign Assets Control) within US jurisdiction is blocked. Additionally, US persons are generally prohibited from engaging in transactions with blocked persons, including entities owned or controlled by designated persons,” the Treasury noted.

Source: Kuwait News Agency