US names Libya state oil firm units hit by sanctions

March 23, 2011 16:55

LONDON - The United States has named 14 companies owned by Libya's state oil firm as subject to sanctions including prominent east Libyan operator Agoco, aiming to cut off a key source of funds for Muammar Gaddafi's regime.

The list of 14 firms owned by Libya's National Oil Corporation (NOC) was identified by the US Department of the Treasury's Office of Foreign Assets Control, or OFAC, and given in a Treasury statement on Tuesday.

"The Libyan National Oil Corporation has been a primary funding source for the Gaddafi regime," said Adam J. Szubin, director of OFAC, in the statement.

"Consistent with UN Security Council Resolution 1973, all governments should block the National Oil Corporation's assets and ensure that Gaddafi cannot use this network of companies to support his activities."

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