Libya rejects attempts to seize some of its UN frozen assets

By Sami Zaptia.

London, 25 January 2021:

Libya categorically rejects attempts by some countries to seize some of its frozen funds, the Tripoli based official state news agency LANA reported yesterday.

LANA reports that the objection was made by the representative of the internationally recognized Libyan government to the United Nations, Taher Al-Sunni, to the Chairman of the Security Council Committee on Libya and a Non-Permanent member of the Security Council, Indian Ambassador T Tirumurti.

Sunni stressed that Libya will not allow this, whatever the arguments and the reasons, citing the example of recently circulating news claiming the attempt of some Belgian institutions to seize frozen Libyan assets.

The subject came during a recent meeting in New York, which focused on discussing and reviewing the latest political developments of the Libyan file and an evaluation of the work of the sanctions committee and the United Nations expert group.

Al-Sunni briefed the Indian ambassador on the violations of UN resolutions that occurred in recent years, and the need to establish the principle of transparency and accountability towards all those responsible for these violations committed against Libyans, whether they are individuals or countries.

The meeting touched on the subject of the frozen Libyan assets and funds, and the importance of taking effective and quick steps to allow the Libyan Investment Authority (LIA) to manage them to avoid large material losses that occurred over the past years. This, at a time when some countries and financial institutions are trying to maintain the status quo and benefit from it, LANA reported.

In turn, Ambassador Tirumurti affirmed his understanding of Libya’s position in this regard and his assertion that, according to UN decisions, no country has the right to dispose of frozen funds without referring to the Sanctions Committee and the Libyan government.

You must be logged in to post a comment Login