Blocking Libyan Government property in the United States or held by U.S. persons

This executive order immediately freezes all Libyan government assets and property interests located in the United States or held by U.S. persons worldwide, building on sanctions imposed the previous day. It delegates implementation authority to the Treasury Secretary in consultation with the Secretary of State.

51 FR 1235

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Impact dates

Jan 8, 1986
Order effective immediately - blocking takes effect
Jan 8, 1986
Transmitted to Congress and published in Federal Register

Key directives

Block all property and interests in property of Government of Libya, its agencies, instrumentalities, controlled entities, and Central Bank of Libya
Block property in the United States, coming within the United States, or within possession or control of U.S. persons including overseas branches
Treasury Secretary authorized to employ IEEPA powers to carry out order
Treasury Secretary to consult with Secretary of State
Order effective immediately

Who is ordered

Timeline

Immediate

All property and interests in property blocked effective immediately
Order transmitted to Congress and published in Federal Register

Near term (90d)

Treasury Secretary implementation of blocking mechanisms
U.S. financial institutions must comply with asset freezes

Long term

Ongoing sanctions enforcement
Potential diplomatic and economic pressure on Libya

Risks & tensions

Immediate effectiveness creates compliance burden without grace period for U.S. persons holding Libyan assets
Overseas branches provision extends extraterritorial reach, potentially conflicting with foreign jurisdictions
Consultation requirement between Treasury and State may slow implementation
Vague definition of 'controlled entities' creates uncertainty for due diligence
Paired with EO 12543 suggests escalating sanctions regime with potential for further measures