UK Delists Libyan Arab African Investment Company from Russia Sanctions, Mirroring 2022 EU Decision
The United Kingdom has delisted the Libyan Arab African Investment Company (LAAICO) from its sanctions list, following an official decision-making process.
LAAICO was UK-designated in 2020 when the Libya (Sanctions) (EU Exit) Regulations 2020 came into force. Prior to that, it had already been subject to UK sanctions through the operation of the pre-Brexit EU sanctions regime under Regulation (EU) 2016/44, on the basis of its links to the former Gaddafi regime.
LAAICO was UK-designated in 2020 when the Libya (Sanctions) (EU Exit) Regulations 2020 came into force. Prior to that, it had already been subject to UK sanctions through the operation of the pre-Brexit EU sanctions regime under Regulation (EU) 2016/44, on the basis of its links to the former Gaddafi regime.
- No reasons were provided for the UK's decision to delist the company. Notably, the EU itself removed LAAICO from its own sanctions list back in 2022, after the EU General Court ruled in Case T-267/20 that the company did not meet the listing criteria set out under Regulation 2016/44.
