Friday, May 9, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

LIA Rejects Belgian Attempt to Unfreeze Libyan Assets Over Debts

February 9, 2021
Share on FacebookShare on Twitter

A request by the Belgian government to the UN Security Council to partially unfreeze Libyan assets was rejected by the Libyan Investment Authority (LIA).

In a statement, the LIA pointed out that it enjoys a separate legal capacity from the Libyan government, and is not liable for claims made against Tripoli.

Libya’s assets were frozen by a UN Security Council resolution in 2011, during the revolution against the Gaddafi regime. The LIA noted that its assets had been frozen ‘‘for the long-term benefit of the Libyan people,’’ and to “protect the funds for generations to come, not as a punishment.’’

The investment authority also stated that Belgium’s request is unjustified and contradicts the asset freeze. The LIA stressed that it has “never been in a contractual relationship” with the Belgian claimant, the Global Sustainable Development Trust (GSDT) led by Prince Laurent.

It said there are ‘‘no legal grounds,’’ for Brussel’s attempts to settle the debt of another Libyan entity by seizing the funds. ‘‘The LIA’s assets belong to the people of Libya, not the state’’, it added.

Tags: AssetsAttemptBelgianDebtsLIAlibyaUnfreeze
Next Post

New Libyan PM Vows to Form Technocratic Government in Libya

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

21,000 in Libya Receive Emergency Aid from UNHCR

US Military Plane Lands at Libya’s Misrata Base

Philippines Criticises US Deportation Plan to Libya

51 Migrants Arrested in Libyan Desert

Libyan Government: No Migrant Resettlement Agreements with US

Osama Hammad Reviews 2025 Budget with Libyan Parliament

EDITOR PICKS

Libya’s Dabaiba Accused of Trading Migrant Returns for US Political Support

EU Condemns Arbitrary Detention in Libya

Libyan Parliament Demands Urgent Probe into Deportation Allegations

Libya’s Central Bank Reports 37.7 Billion Dinars in Revenue by April

Philippines Criticises US Deportation Plan to Libya

British Ambassador Reaffirms Support for Libyan Stability

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR