Libyan Investment Authority, UN Sanctions Committee review protecting frozen assets

The Chairman and a number of members of the Libyan Investment Authority (LIA) have discussed with the President of the United Nations (UN) Libya Sanctions Committee, Japanese ambassador to the UN, Ishikane Kimihiro, the impact and challenges of the 2011 assets freeze resolution of the Security Council.

LIA’s Chairman, Ali Mahmoud, reviewed the asset freeze resolution with Kimihiro and a number of mission heads at the UN via a video-conference meeting on Friday.

LIA talked about protecting Libyan frozen assets abroad, achieving profits, and making sure the assets increase through fair rates; not shrink in amount along the years.

“The UN Libya Sanctions Committee vowed to look into LIA’s requests and to prioritize them in its scheme of work. It hailed the progress LIA had made in auditing and transparency efforts.” LIA remarked.

UN Security Council’s resolution (1970) of 2011 imposed an arms embargo, a travel ban and an assets freeze in connection with the February 17 revolution in Libya that eventually toppled Muammar Gaddafi and ended his 42-year-long reign.


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