International Trade Law News

Yesterday, the Office of Foreign Assets Control (OFAC) issued an amended general license authorizing additional transportation transactions with Libya. The amended general license revises the general license issued by OFAC on April 23, 2004. Prior to the issuance of the amended general license nearly all transportation-related transactions with Libya were prohibited, except for those expressly authorized by section 550.574, the general license for travel to Libya. The amended general license now authorizes additional transportation-related transactions with Libya, except for those transactions specified in paragraph (b)(3) of the amended general license, which remain prohibited. Two examples of the changes effected by the amended general license are: (1) U.S. air carriers may now operate all-cargo charters to Libya; and (2) Code-sharing between U.S. and third-country air carriers on U.S.-Libya service is now permitted.