Underlining the complexity of managing the Gaddafi financial asset freeze on Friday, HM Treasury has carved out an exception for any traders dealing with ‘non-Libyan financial institutions’:
(H/T Natsuko Waki of Reuters)
Effectively it’s a licence to continue trading with British-Arab Commercial Bank, a London-based name active in short-term financing (letters of credit and so on) of trade in Arab markets.
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