ECJ judgment on Libya sanctions payments

The ECJ has given judgment in a request for a preliminary ruling from the Hungarian courts in proceedings between two Hungarian banks concerning the payment of costs arising in connection with bank guarantees for public service construction works for the Libyan Housing and Infrastructure Board, which was designated under the EU’s Libya sanctions regime between March 2011 and January 2014. See judgment C-168/17 (17 January 2019). The ECJ has ruled on the interpretation of various provisions of the Libya sanctions regulations relating to the treatment of costs.