meta_id 3238519

On June 12, 2026, the Council of the European Union adopted Council Decision (CFSP) 2026/1334, amending Council Decision (CFSP) 2015/1333 concerning restrictive measures in view of the situation in Libya. The amendment implements measures following the United Nations Security Council (UNSC) adoption of Resolution 2819 on April 14, 2026. The decision modifies travel restrictions and asset freeze provisions applicable to designated persons and entities. Article 8 of the original decision has been amended to incorporate travel restriction criteria from UNSC Resolution 2819 (2026), requiring member states to prevent entry into or transit through their territories of persons designated by the Security Council or the relevant committee. Article 9 has been updated to reflect asset freeze measures, including funds, financial assets, and economic resources owned or controlled by designated persons and entities. Significantly, the amendment introduces new provisions governing frozen cash reserves belonging to the Libyan Investment Authority, listed as entry number 1 in Annex VI. Member states may now authorise the use of frozen cash reserves for low-risk time deposits or fixed income instruments, subject to committee approval and consultation with the Government of Libya. Additionally, the decision permits the transfer of frozen funds between custodial banks or financial institutions acting as global custodians within the same jurisdiction, provided assets remain frozen and maintain their form and value throughout the transfer. Member states must notify the committee of such transfers and inform other member states and the Commission within two weeks of granting authorisation. The decision entered into force on June 15, 2026, following its publication in the Official Journal of the European Union.