The Council of the European Union decided on 10 March to extend restrictive measures to five key financial entities, and to add one additional name to the list of individuals already subject to restrictive measures, in response to the gravity of the situation in Libya. This Council Decision  2011/156/CFSP entered into force  and was published in the Official Journal on 11 March.

According to Council Implementing Decision 2011/156/CFSP of 10 March 2011 implementing Decision 2011/137/CFSP concerning restrictive measures in view of the situation in Libya, the funds and economic resources of the five designated entities have been frozen and an additional name was added to the list of 26 individuals deemed responsible for the violent crackdown on the civilian population since 15 February and subject to an assets freeze.

These measures entered into force when published in the Official Journal of the European Union on 11 March. They will be added to the legislation adopted on sanction to Libya on 28 February and 2 March 2011 where the Council banned the supply to Libya of arms, ammunition and related material, prohibited trade with Libya in equipment which might be used for internal repression and imposed a visa ban and an assets freeze on 26 individuals, including Muammar Qadhafi, members of his family and close associates.

Council Implementing Decision  2011/156/CFSP, was accompanied by Council Implementing Regulation (EU) Nº 233/2011 of 10 March 2011 implementing Article 16(2) of Regulation (EU) Nº 204/2011 concerning restrictive measures in view of the situation in Libya. The decision and regulation were adopted by written procedure, and the restrictive measures they entail will be kept under constant review.

Extraordinary European Council on Libya

This meeting of the Council of Foreign Affairs, preceded an extraordinary meeting of the European Council convened in order to analyse the developments in the EU's Southern Neighbourhood, and Libya in particular. The European Council will examine a report of the High Representative and the Commission on the rapid adaptation of EU instruments made upon the invitation of the European Council of 4 February as well as the report of the High Representative on support for the transition and transformation processes.