Washington (CNN) -- The U.S. government announced Friday that it will impose sanctions against the regime of Col. Moammar Gadhafi -- part of a series of measures designed to isolate the Libyan regime and loosen the dictator's grip on power. The American embassy in Libya suspended operations for security reasons, though State Department officials stressed that diplomatic ties were not suspended and channels for discussion remained open. "The flag is still flying. The embassy is not closed. Operations are suspended. Relations are not broken," Under Secretary of State for Management Patrick Kennedy told reporters. State Department Deputy Assistant Secretary for Near Eastern Affairs Janet Sanderson reiterated at the same briefing that Libya's Embassy in Washington is still "up and running," and the department has not been informed of any change in the status of Libya's ambassador to the United States.
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NEW: U.S. will reach out to Libya "where appropriate," State Department official says
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The U.S. government is imposing sanctions against Libya and has suspended embassy operations
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U.S.-chartered ferry with around 300 people completes trip from Libya to Malta
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The U.S. Treasury Department advises banks to report unusual Libyan financial transactions
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Local and national security guards remain at the embassy, @placeholder said, but he would not discuss what measures if any are being taken to secure documents and the like inside the embassy.
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Steps were also taken to ensure that top Gadhafi officials don't steal @placeholder financial assets in what may be their final days in power.
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Reports from @placeholder suggest that possibly hundreds of protesters have been killed.
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Washington also announced the suspension of all military cooperation with @placeholder, reversing a course of action taken after Gadhafi's government ended its pursuit of weapons of mass destruction.
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Earlier, a ferry chartered by U.S. authorities carried roughly 300 people to @placeholder.
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@placeholder appeared to be largely in the hands of anti-government forces.