According to the December 16, 2011 Fact Sheet by the US Department of Treasury, "In conjunction with action taken at the United Nations (UN), the U.S. Department of the Treasury today issued General License No. 11, unblocking more than $30 billion in assets of the Government of Libya. [ ] As of today’s action, the only Libyan government assets still blocked under U.S. law are funds of the LIA and its subsidiaries, including the Libyan Africa Investment Portfolio (LAIP). Both the LIA and the LAIP remain listed at the UN. The property and interests in property of certain members of the Qadhafi family, certain senior members of the Qadhafi regime, and certain entities in which they have an interest also remain blocked." (Source: US Department of the Treasury, "Fact Sheet: Lifting Sanctions on the Government of Libya," December 16, 2011.)
On February 25, 2011, President Barack Obama had issued an Executive Order entitled "Blocking Property and Prohibiting Certain Transactions Related to Libya." President Obama based the Executive Order under powers granted to him under the International Emergency Economic Powers Act and the National Emergencies Act. The Executive Order applied to Mr. Muammar Qadhafi, members of his government, members of his family and close associates. (Source: The White House, Executive Order, Blocking Property and Prohibiting Certain Transactions Related to Libya, February 25, 2011).
Mr. Qaddafi passed away on October 20, 2011 (Source: New York Times, "Muammar el Qaddafi"); as of October 31, 2011 cases in investigatory stage as to other individuals and entities.
US Department of the Treasury, "Fact Sheet: Lifting Sanctions on the Government of Libya," December 16, 2011, accessed at http://www.treasury.gov/press-center/press-releases/Pages/tg1387.aspx; The White House, Executive Order, Blocking Property and Prohibiting Certain Transactions Related to Libya, February 25, 2011, accessed at http://www.treasury.gov/resource-center/sanctions/Programs/Documents/201... New York Times, "Muammar el-Qaddafi," accessed on October 31, 2011 at http://topics.nytimes.com/top/reference/timestopics/people/q/muammar_el_...