Belgium’s request to unfreeze Libyan assets rejected by UN sanctions committee

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Posted – 13th February 2021

The Libyan Foreign Ministry said it had achieved a diplomatic victory after the rejection by the Security Council’s sanctions committee for the request of Belgium to unfreeze Libyan assets in its banks.

The Foreign Ministry said in a statement Friday that the sanctions committee’s rejection signaled a very clear message to any country that would consider seizing Libyan frozen assets, adding that it would exert efforts to use those assets in development, rebuilding and services’ projects inside Libya.

Meanwhile, the Libyan Investment Authority welcomed the rejection of the sanctions committee to Belgium’s request, saying it would never allow any country lay hands on Libyan people’s assets and that the decision came as per the laws of the sanctions system and efforts of the Libyan Investment Authority.

“We hail the efforts of the Permanent Mission of Libya to the UN that helped boost Libyan Investment Authority’s argument to protect Libyans’ frozen assets.” Libyan Investment Authority added.

Belgium wanted the Security Council’s sanctions committee to allow it to unfreeze 49 million euros of Libyan assets in its banks.

LIBYA OBSERVER – Abdulkader Assad

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