US lifts majority of commercial sanctions on Libya
The United States has lifted sanctions imposed on Libya under the Iran and Libya Sanctions Act of 1996 in recognition of numerous steps taken by the Libyan government to terminate its weapons of mass destruction program since December 2003.
According to an April 23 White House press statement, this will allow for the resumption of most commercial activities on the part of US companies including investments in the Libyan oil sector and provision of financial services to support commercial projects.
The United States will also lift its objections to Libya's accession to the World Trade Organization (WTO) and work to rebuild diplomatic ties with Tripoli. The press statement also indicated that a US delegation would be traveling to Libya to discuss educational exchanges between the two countries.
"Through its actions, Libya has set a standard that we hope other nations will emulate in rejecting weapons of mass destruction and in working constructively with international organizations to halt the proliferation of the world's most dangerous systems," the statement said.
Despite the announcement, certain sanctions will remain in place with respect to Libya's continued designation as a state sponsor of terrorism. These sanctions include the prohibition of exports that might be used for military purposes and the prohibition of direct air service between these countries. Frozen Libyan government assets will not yet be released.
The press statement indicated that the United States' political and economic dialogue with Libya would continue to focus on the issues of terrorism, human rights, political and economic modernization and foreign policy in Africa. — (menareport.com)
© 2004 Mena Report (www.menareport.com)