The Libyan Prime Minister, Abdul Hamid Dbeibah, announced Tuesday that the Belgian judiciary had lifted the seizure imposed on the assets of the Libyan Investment Authority and Libyan Foreign Investment Company (LAFICO) at Euroclear Bank.
Dbeibah said that this complex case required careful follow-up, adding that the government had spent long hours in intensive meetings to discuss all its details and develop a clear strategy to protect it. He stressed that this achievement was not just a legal success, but rather an important step to enhance the stability of the country’s economy, support the national currency, and confirm the preservation of Libyans’ assets.
The Libyan Prime Minister remarked that his government would continue to defend Libya’s capabilities and work to invest them for all citizens.
In July 2023, the Belgian Court of Appeal issued a ruling confirming the freezing of an amount of 15 billion euros of the Libyan Investment Authority’s funds deposited at Euroclear Bank in Brussels.
The ruling came after Belgian Prince Laurent demanded compensation of 50 million euros due to the failure to implement a contract signed in 2008 with the Libyan Ministry of Agriculture, which was cancelled by the Libyan authorities.
