In recognition of these actions, the U.S. began the process of normalizing relations with Libya under Gaddafi. The U.S. terminated the applicability of the Iran-Libya Sanctions Act to Libya and the President signed an Executive Order on September 20, 2004 terminating the national emergency with respect to Libya and ending IEEPA-based economic sanctions. This action had the effect of unblocking assets blocked under the Executive Order sanctions. Restrictions on cargo aviation and third-party code-sharing have been lifted, as have restrictions on passenger aviation. Certain export controls remain in place. | In recognition of these actions, the U.S. began the process of normalizing relations with Libya under Gaddafi. The U.S. terminated the applicability of the Iran-Libya Sanctions Act to Libya and the President signed an Executive Order on September 20, 2004 terminating the national emergency with respect to Libya and ending IEEPA-based economic sanctions. This action had the effect of unblocking assets blocked under the Executive Order sanctions. Restrictions on cargo aviation and third-party code-sharing have been lifted, as have restrictions on passenger aviation. Certain export controls remain in place. |