EU amends Libya sanctions rules to reflect UN changes on listings and frozen assets

BRUSSELS, June 15, 2026 — The Council of the European Union has adopted Regulation (EU) 2026/1332, amending its Libya sanctions regime to implement changes agreed at the United Nations, including a revised designation criterion and new provisions governing frozen assets linked to Libya.

The regulation, published in the Official Journal on June 15, says the changes are needed to reflect UN Security Council Resolution 2819, adopted on April 14, 2026. That resolution updated one of the criteria for sanctions listings and modified the scope of measures imposed on the Libyan Investment Authority.

Under the EU amendment, Article 6 of Regulation (EU) 2016/44 is updated so Annex II can include people, entities and bodies designated under several UN resolutions.

The regulation also rewrites Article 11a to allow, after notification by the relevant EU member state and approval by the UN Sanctions Committee, the use of frozen cash reserves belonging to the entity listed as entry No. 1 in Annex VI for specified low-risk investments. Those include low-risk time deposits and fixed-income instruments, in line with UN conditions and consultation requirements involving the Government of Libya.

A newly inserted Article 11b goes further by allowing, subject to Sanctions Committee approval, the transfer of certain frozen funds or economic resources within the same jurisdiction between custodial banks or financial institutions for the purpose of changing the global custodian. The assets must remain frozen throughout and after the transfer, and the transfer must preserve their form and value. Member states must notify other member states and the European Commission within two weeks of any authorization granted.

The measure enters into force the day after its publication in the Official Journal and is directly applicable across all EU member states.