EU discussing sanctions on Libyan oil companies

PanARMENIAN.Net - The EU is already discussing possible sanctions on Libyan oil companies, an EU source said on March 11 after the EU's Hungarian presidency said additional future sanctions could include freezing the assets of Libya's oil and gas producing and exporting companies.

Earlier the day, Hungarian Foreign Minister Janos Martonyi said in a radio interview that the EU could target the assets of Libya's oil companies.

"It cannot be ruled out that, depending on further developments - which do not seem too favorable at the moment, additional sanctions may be imposed," Martonyi said.

"If necessary, these may include freezing the assets of companies involved in oil and natural gas production and exports."

A spokesman for Hungary's EU representation in Brussels would say only that there was discussion of further entities being placed on the sanctions list, declining to say whether these included Libyan oil companies, Platts reported.