Media Release Banking (Foreign Exchange) Regulations 1959
Sanctions Against Libya

The Reserve Bank of Australia has been directed by the Australian Government to take steps under the Banking (Foreign Exchange) Regulations 1959 to implement autonomous targeted financial sanctions against certain key persons associated with the Qadhafi regime in Libya. Details of these persons are contained in the Annex.

Transactions involving the transfer of funds or payments to, by the order of, or on behalf of any person or entity listed in the Annex are prohibited without prior approval from the Reserve Bank.

UPDATE: On 7 March 2012, responsibility for the administration of Australia's autonomous financial sanctions was transferred from the RBA (under the Banking (Foreign Exchange) Regulations 1959) to the Department of Foreign Affairs and Trade (DFAT) (under the Autonomous Sanctions Regulations 2011).
This change was announced in RBA Media Release No 2012-05. As a result, the content of this media release is no longer current and any accompanying annexes and/or attachments have been removed. For all enquiries about Australia's autonomous financial sanctions regime, including the current list of sanctioned individuals and entities, refer to the DFAT website.


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