Blocking Property and Prohibiting Certain Transactions Related to Libya

This executive order freezes all assets of the Libyan government, its central bank, and senior officials under Muammar Qadhafi held by U.S. persons or within the United States. It also authorizes the Treasury Secretary to designate additional individuals for sanctions based on their role in human rights abuses or ties to the regime, effective immediately upon signing.

Federal Register Open PDF 76 FR 11315

Impact dates

Feb 25, 2011
Order effective at 8:00 p.m. eastern standard time

Key directives

Block all property of listed persons and Government of Libya, its agencies, and Central Bank of Libya
Prohibit contributions, provision of funds/goods/services to or from blocked persons
Prohibit evasion, avoidance, or conspiracy to violate order
Authorize Treasury Secretary to promulgate rules and regulations
Authorize Treasury Secretary to determine additional designations and removals
Submit recurring and final reports to Congress on national emergency

Who is ordered

Timeline

Immediate

Asset freeze takes effect at 8:00 p.m. EST February 25, 2011
All blocked property prohibited from transfer, payment, export, or withdrawal
No prior notice required for designations

Near term (90d)

Treasury/State designation of additional sanctioned persons
Implementation of regulations and licensing framework
Agency coordination to enforce prohibitions

Long term

Potential removal of sanctions if circumstances change
Recurring and final congressional reports on national emergency
Ongoing asset freeze until emergency terminated

Risks & tensions

No prior notice requirement raises due process concerns for designated persons with constitutional presence in U.S.
Broad delegation to Treasury Secretary for designations creates significant discretionary authority
Vague 'human rights abuses related to political repression' standard for subsection (b)(iii) designations
Potential conflict with pre-existing contracts and licenses under Section 6