President Reagan decided to ban imports of Libyan oil and halt US exports of oil and gas technology and equipment to the government of Col. Muammar Qaddafi, the State Department announced.
The department said the action was taken because of Libyan terrorism and subversion against a number of countries, particularly US friends in the Middle East and Africa.
State Department spokesman Dean Fischer told reporters that the administration, which has been reviewing US policy toward Libya for a year, had seen no evidence of a ''significant, lasting change'' in its behavior.
Senior department officials said the administration had indicated to allies that it would welcome their support for an embargo on Libyan oil but did not expect other countries to follow suit.
The move is expected to have a limited economic effect on the Qaddafi regime because American imports of Libyan oil have dropped sharply in the past two years - to 150,000 barrels a day last year (3 percent of total US oil imports) from the 1980 level of 700,000 barrels a day.
The stage was set for the decision last December when the Reagan administration called home 1,500 Americans working for 30 US companies.