Libya beats a path to foreign bankers

SINCE LIBYA’S 2003 acceptance of responsibility for the 1988 Lockerbie aircraft bombing and renunciation of its pursuit of weapons of mass destruction, Tripoli has begun to come in from the cold. In 2003, the UN lifted multilateral sanctions, and a year later the US began easing its own sanctions regime against Libya. The trade embargo has now been removed, although sanctions relating to terrorism remain in place, blocking US arms exports to Libya, limiting US aid, and requiring the US to vote against loans from international financial institutions.