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UN Sanctions Committee should preserve Libyan frozen assets, El Sonni says

The Libyan ambassador to the United Nations Taher El Sonni has called on the UN Sanctions Committee to help preserve Libyan frozen assets from the misuse of certain countries, not naming any.

In a virtual meeting for the Libyan Investment Authority board and the UN Sanctions Committee on Libya, El Sonni reiterated the need for ending the losses inflicted on Libyan frozen assets overseas.

El Sonni also urged for separating politics from the protection of sovereign assets that belong to the future generations of the Libyan people.

He said that the assets freezing decision was made to secure the funds during the interim period and that Libyans “call now for preserving the assets not unfreezing them”.

Libya’s UN ambassador urged the UN Sanctions Committee to speed up solutions for the issue that was raised years ago by Libya.

Meanwhile, the board of the Libyan Investment Authority gave a presentation outlining the consequences of not allowing its teams to manage the frozen assets amid financial fluctuation across the world.

The CEO of the Libyan Investment Authority explained the steps of auditing and reviewing of Libyan assets abroad in cooperation with international organizations, saying they all led to the same conclusion, which is: the Libyan frozen assets are suffering losses because the Investment Authority cannot manage them.

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