A new round of U.S. sanctions targets Libyan smugglers to block the unauthorized exploitation of natural resources in the North African country, according to a new report by Reuters . The U.S. treasury department announced new rules on Monday, activating the Office of Foreign Assets Control (OFAC) to sanction six individuals, 24 companies and seven vessels to keep American firms from interacting with the smuggled goods in U.S. jurisdictions. The individuals held either Libyan, Maltese, or Egyptian citizenships, an official statement read. A 2016 executive order by President Barack Obama identifies the three countries as targets of oil and gas smuggling as well. “Oil smuggling undermines Libya’s sovereignty, fuels the black market and contributes to further instability in the region while robbing the population of resources that are rightly theirs,” OFAC’s statement said, referring to the phenomenon that has greatly increased since the overthrow of dictator Muammar Ghaddafi during […]