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On April 5 1999 more than 10 years after the 1988 bombing of Pan Am flight 103 over Lockerbie Scotland that killed 270 people Libya extradited two men suspected in the attack In response the United Nations suspended economic and other sanctions against Libya which had been in place since April 1992 In late April 2003 Libyas foreign minister stated that Libya had accepted civil responsibility for the actions of its officials in the Lockerbie affair and in September 2003 the UN Security Council officially lifted its sanctions On February 26 2004 following a declaration by Libya that it would abandon its weapons of mass destruction WMD programs and comply with the Nuclear Non-Proliferation Treaty NNPT the United States rescinded a ban on travel to Libya and authorized US oil companies with pre-sanctions holdings in Libya to negotiate on their return to the country if and when the United States lifted economic sanctions On April 23 2004 the United States eased its economic sanctions against Libya with a written statement from the White House Press Secretary stating US companies will be able to buy or invest in Libyan oil and products US commercial banks and other financial service providers will be able to participate in and support these transactions On the same day Libyas state-owned National Oil Corporation NOC announced its first shipment of oil to the United States in over 20 years On June 28 2004 the United States and Libya formally resumed diplomatic relations severed since May 1981 Finally on September 20 2004 President Bush signed Executive Order 12543 lifting most remaining US sanctions against Libya and paving the way for US oil companies to try to secure contracts or revive previous contracts for tapping Libyas oil reserves The Order also revoked any restrictions on importation of oil products refined in Libya and unblocked certain formerly blocked assets In this situation where there was more than one possible outcome we can use analytical
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