Libya Sanctions - Notice to Financial Services Licence Holders - Council Implementing Regulation (EU) No 872/2011 of 1 September 2011 concerning restrictive measures in view of the situation in Libya
SEPTEMBER 02, 2011

The MFSA brings to the attention of all licence holders the coming into effect of COUNCIL IMPLEMENTING REGULATION (EU) No 872/2011 of 1 September 2011 implementing Article 16(2) of Regulation (EU) No 204/2011 concerning restrictive measures in view of the situation in Libya.

This Regulation has immediate effect in Maltese law and requires no implementation measures. It can be viewed at the website of the Official Journal of the European Union or on the MFSA website under “EU & International Affairs/International Affairs/International Sanctions”.

The annex to this Regulation lists 28 entities which have been deleted from the list of sanctioned entities as set out in Annex III of EU Regulation 204/2011. Accordingly, licence holders are hereby notified that the entities reproduced hereunder should no longer be subject to restrictive measures, including freezing of assets.


Entities referred to in EU Regulation 872/2011 (as numbered in Annex III of EU Regulation 204/2011)

2. Economic and Social Development Fund (ESDF)
8. National Commercial Bank
9. Gumhouria Bank
10. Sahara Bank
11. Azzawia (Azawiya) Refining
12. Ras Lanuf Oil and Gas Processing Company (RASCO)
13. Brega
14. Sirte Oil Company
15. Waha Oil Company
17. Tamoil Africa Holdings Limited (a.k.a. Oil Libya Holding Company)
23. First Gulf Libyan Bank
25. National Oil Wells and Drilling and Workover Company (a.k.a. National Oil Wells Chemical and Drilling and Workover Equipment Co.; a.k.a. National Oil Wells Drilling And Workover Equipment Co.)
26. North African Geophysical Exploration Company (a.k.a. NAGECO; a.k.a. North African Geophysical Exploration)
27. National Oil Fields and Terminals Catering Company
28. Mabruk Oil Operations
30. Harouge Oil Operations (a.k.a. Harouge; a.k.a. Veba Oil Libya GMBH)
31. Jawaby Property Investment Limited
32. Tekxel Limited
39. Mediterranean Oil Services Company (a.k.a. Mediterranean Sea Oil Services Company)
40. Mediterranean Oil Services GMBH (a.k.a. MED OIL OFFICE DUESSELDORF, a.k.a. MEDOIL)
41. Libyan Arab Airlines
43. Port authority of Tripoli
44. Port authority of Al Khoms
45. Port authority of Brega
46. Port authority of Ras Lanuf
47. Port authority of Zawia
48. Port authority of Zuwara
49. Al-Sharara Oil Services Company (a.k.a.: Al Sharara, Al-shahara oil service company, Sharara Oil Service Company, Sharara, Al-Sharara al Dhahabiya Oil Service Company)


The MFSA calls upon licence holders to consider the terms of this Regulation carefully and to take all steps as may be required for its immediate implementation. The MFSA reminds its licence holders to continue to exercise vigilance, to monitor their business relationships and to verify their records on an on-going basis to ensure that they do not in any way support activities, individuals or entities which are subject to sanctions or other restrictive measures which remain in place.

André Camilleri
Director General


MFSA Ref: 40-2011