meta_id 3238513

On June 12, 2026, the Council of the European Union adopted Council Regulation (EU) 2026/1332, amending Council Regulation (EU) 2016/44 concerning restrictive measures in view of the situation in Libya. The regulation entered into force on June 15, 2026, following its publication in the Official Journal of the European Union (OJ). The amendment implements changes required by United Nations Security Council (UNSC) Resolution 2819, adopted on April 14, 2026. The UNSC resolution introduces amendments to listing criteria for those subject to restrictive measures and modifies the scope of measures imposed on the Libyan Investment Authority. The regulation amends Article 6 of Regulation (EU) 2016/44 to include natural or legal persons, entities and bodies designated under paragraph 19 of UNSC Resolution 2819 (2026). Additionally, the regulation modifies Article 11a to permit the use of frozen cash reserves belonging to the Libyan Investment Authority for low-risk time deposits or fixed income instruments, subject to Sanctions Committee approval and consultation with the Government of Libya, in accordance with paragraphs 14 of UNSC Resolution 2819 (2026). The regulation introduces a new Article 11b, authorising the transfer of certain frozen funds or economic resources belonging to the Libyan Investment Authority between custodial banks or financial institutions acting as global custodians within the same jurisdiction. Such transfers require Sanctions Committee approval under paragraph 15 of UNSC Resolution 2819 (2026), with assets remaining frozen throughout and upon completion of transfer. Member States must notify other Member States and the European Commission of any authorisation granted within two weeks. REFERENCES: Council Regulation (EU) 2026/1332 of 12 June 2026: http://data.europa.eu/eli/reg/2026/1332/oj Council Decision (CFSP) 2026/1334 of 15 June 2026: http://data.europa.eu/eli/dec/2026/1334/oj