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FEDERAL RESERVE BANK OF NEW YORK F isc al A g e n t o f th e U n ited S tates AT 10 SZfffO April 2, 1992 OFFICE OF FOREIGN ASSETS CONTROL — Consolidated List of All Specially Designated Nationals — Additions to List of Libyan Specially Designated Nationals as of March 27, 1992 To All Banks, and Others Concerned, in the Second Federal Reserve District: Printed on the following pages is a revised consolidated list of Specially Designated Nationals, as of M arch 27, 1992, under the foreign assets control and sanctions regulations o f the U.S. Treasury. T he Treasury’s Office o f Foreign Assets Control com piled the list, which consists of Specially D es ignated Nationals of Iraq, Libya, Cuba, North Korea, and Vietnam. As indicated on the last page, the list is designed as an unofficial reference tool to assist the public in complying with the various program s adm inistered by the Office of Foreign Assets Control and is not intended as a substitute for official lists published in the Federal Register. The Federal Register citations of the official lists are also contained on the last page. Also, enclosed are the nam es of entities that have been added to the list of Specially Designated Nationals of Libya, as o f M arch 27, 1992; these additions are included in the consolidated list. In connection w ith the list o f Specially Designated Nationals of Libya, the Treasury D epartm ent issued the following statement: The Treasury Department today added 46 companies to its list of businesses controlled by the gov ernment of Libya. This action is part of ongoing Treasury efforts to tighten enforcement of the U.S. ec onomic embargo against Libya. As a result of today’s action, the listed firms are now considered “specially designated nationals” (SDNs) of the Libyan government, bringing them under the embargo and asset freeze imposed against Libya by President Reagan in January 1986. All assets of Libyan SDNs within U.S. jurisdiction, includ ing overseas branches of U.S. banks, are blocked. Economic transactions by U.S. persons with SDNs of Libya anywhere in the world are prohibited. “Muammar Qadhafi’s continued use of terrorism as a tool of Libyan foreign policy will prove to be a costly and counterproductive venture as Libya becomes more economically isolated,” said R. Richard Newcomb, director of Treasury’s Office of Foreign Assets Control (OFAC), in announcing today’s action. “Naming these companies helps expose the extent of Libyan holdings abroad and empha sizes U.S. commitment to denying Libya the benefit of normal international commercial relations with the United States,” Newcomb said. The 46 companies include key Libya-controlled organizations in the international banking, petro leum, investment, and commercial industries. While it has been widely understood that U.S. individuals rt-T/OSZjgfa) and companies are barred from doing business with firms located in Libya, the Libyan government’s control of its joint ventures and overseas investments has been less apparent. Including those named in today’s action, there are 106 companies and 20 individuals on Treasury’s SDN list for Libya. Doing business with a Libyan SDN is equivalent to doing business with the government of Libya, which carries maximum criminal penalties of $500,000 per violation for corporations and $250,000 per violation for individuals, plus prison sentences of up to 10 years for individuals and senior corporate officers. OFAC also may levy administrative civil penalties of up to $10,000 per violation. Treasury’s SDN list for Libya may be expanded or amended at any time, as new information becomes available to the Treasury Department. Persons with information on individuals or firms owned or con trolled by the Government of Libya or acting on behalf of the Government of Libya may call 202-566-5021. All calls will be kept confidential. Questions regarding the lists may be addressed to the Office of Foreign A ssets Control of the U.S. Treasury (Tel. No. 202-566-5021). G eorge W. R y a n , Vice President. This document contains personally identifiable information and has been removed. Author(s): Department of the Treasury, Office of Foreign Assets Control Attachment Title: Alphabetical Listing of All Specially Designated Nationals as of Date of Publication Date: March 27, 1992 Page Numbers: 1-8 Author(s): Department of the Treasury, Office of Foreign Assets Control Attachment Title: Additions to List of Libyan Specially Designated Nationals, as of March 27, 1992 Date: March 27, 1992 Page Numbers: 1-8
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