Ofac lifts Agoco sanctions amid supply crisis


In depth
Issue 210 - 04 Jun 2011 | 4 minute read

The United States Treasury Department's Office of Foreign Assets Control (Ofac) has lifted sanctions on National Oil Corporation (NOC)'s Benghazi-based subsidiary Arabian Gulf Oil Company (Agoco). The move is important because Agoco was included in early Ofac and other sanctions lists even though it had declared itself independent of its parent in Tripoli and was remaking itself

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