US – President extends National Emergency with respect to Libya

On February 24, 2014, the Federal Register published the Notice of February 20, 2014 – Continuation of the National Emergency With Respect to Libya. The notice recognizes that the US is in the process of winding down sanctions in response to developments in Libya, including the fall of Qadhafi and his government and the establishment of a democratically elected government. The US is working closely with the new Libyan government and with the international community to effectively and appropriately ease restrictions on sanctioned entities, including by taking action consistent with the UN Security Council’s decision to lift sanctions against the Central Bank of Libya and two other entities on December 16, 2011. However, the notice states that the situation in Libya continues to pose an unusual and extraordinary threat to the national security and foreign policy of the United States and there is a need to protect against this threat and the diversion of assets or other abuse by certain members of Qadhafi’s family and other former regime officials. Accordingly, the President has decided in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), to continue for an additional year the national emergency declared on February 25, 2011, and the measures adopted on that date to deal with that emergency.