EU restricts liability arising from Libya targeted sanctions

On 20 January 2014, The EU’s sanctions relating to Libya were amended by the European Council to amend the “non-liability” and “no claim” clauses. Council Regulation No.45 of 2014, amends Council Regulation 204 of 2011, by providing (in approximate summary) that: Freezing funds or economic resources or refusing to make economic resources available, if it…