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U.S., UN sanction Libya’s militia leader over $1.4bn oil revenue loss

By Meletus EZE

The U.S., in coordination with the UN Security Council’s Libya Sanctions Committee, imposed financial sanctions on Libyan militia leader Ibrahim Jadhran for causing more than 1.4 billion dollars oil revenue loss to the crisis-ridden country.

The U.S. Department of State said in a statement that the sanction was in accordance with the UN listing, which was proposed by Libya’s Permanent Mission to the UN.

Consequently, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated Jadhran pursuant to Executive Order 13726, the statement said.

“Consequently, all of Jadhran’s assets within U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with him.

“In addition, the corresponding UN sanctions require all UN Member States to impose an asset freeze and travel ban.

“In June 2018, forces led by Jadhran violently attacked and seized control of the Libyan oil ports Ras Lanuf and Al Sidra.

“This created an economic and political crisis that cost Libya more than $1.4 billion in revenue and set back efforts to promote political progress and stability in Libya,” the U.S. said.

The United States said the Libya’s oil facilities, production, and revenues belonged to the Libyan people.

These vital Libyan resources must remain under the exclusive control of the legitimate National Oil Corporation and the sole oversight of the Government of National Accord, as emphasised in multiple UN Security Council Resolutions, it added.

“Today’s action shows that the United States and the international community will take concrete and forceful action in response to those who undermine Libya’s peace, security, or stability,” the United States said.

 

 

 

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