US sanctions Libya oil smugglers | WHAT REALLY HAPPENED


US sanctions Libya oil smugglers

The United States has issued a new round of sanctions targeting oil smugglers in Libya aimed at blocking exploitation of natural resources that is driving instability, the US Treasury Department said on Monday.

In a statement, Treasury's Office of Foreign Assets Control (OFAC) said it was sanctioning six people, 24 companies and seven vessels in a move that prohibits Americans from engaging with those targeted and freezes any related property under US jurisdictions.

The sanctions target people from Libya, Malta and Egypt for "involvement in the smuggling of petroleum products from Libya to Europe".

Issued under the authority of a 2016 executive order by then President Barack Obama, companies based in Italy, Libya and Malta are also targets, the statement said.

Darren Debono, a Maltese former international footballer, allegedly formed with others an "unofficial consortium" to smuggle Libyan oil into a Malta and Italy, the Treasury's Office said. The scheme generated about $37 million.

Webmaster's Commentary: 

The rest of the world isn't going to be quite that fussy about from where they can get below-market oil, and if they can get it from illegal smugglers in Libya, they will.

This is a massive effort, courtesy of the American government, to appear that it is actually doing something about the instability generated by the assassination of Moamar Ghaddafi 7 years ago, when these sanctions really do next to nothing to get at the root of the problem.

And the root of the problem, is getting Libya stable again, with a functioning government which can protect its own people and its industries, which, unfortunately, does not appear to be happening any time soon.

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