Treasury: rebels can sell oil outside sanctions

Reuters News
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Posted: Mar 28, 2011 10:53 AM
Treasury: rebels can sell oil outside sanctions

WASHINGTON (Reuters) - Crude oil sales by Libyan rebels would not be subject to U.S. sanctions if the transactions are done outside the National Oil Corp and other sanctioned entities in Muammar Gaddafi's regime, a Treasury Department official said on Monday.

The rebels, who regained control of a number of oil fields and terminals in eastern Libya over the weekend, would have to establish payment systems that do not utilize Libya's central bank, the official told Reuters.

(Reporting by David Lawder; Editing by Andrea Ricci & theodore d'Afflisio)