Taher Al-Baour, Acting Head of the Foreign Ministry, held a meeting with Ali Mahmoud, Chairman of the Libyan Investment Authority (LIA), to discuss the outcomes of LIA’s recent visit to the United Nations Security Council Sanctions Committee.
The discussions focused on strengthening coordination between the Foreign Ministry and the LIA to support efforts in safeguarding Libya’s frozen assets abroad. Both parties emphasised the importance of effective communication mechanisms to ensure the successful defence and management of these assets.
During the meeting, they outlined strategies for continuous monitoring and evaluation of the frozen funds to align with national interests. The collaborative approach aims to address challenges and enhance Libya’s stance in protecting its financial resources globally.
The visit to the UN Sanctions Committee is part of ongoing efforts by the LIA to advocate for Libya’s economic interests and provide updates on the management of frozen assets. These assets, held in various international jurisdictions, have been under strict monitoring since the imposition of sanctions during Libya’s 2011 uprising.
The LIA, one of the world’s largest sovereign wealth funds, manages billions of dollars in assets. Its leadership has repeatedly emphasised the importance of preserving the fund’s value and leveraging international partnerships to address legal and financial challenges associated with the sanctions.
The meeting underlines the critical role of inter-institutional cooperation in ensuring the stability and integrity of Libya’s financial resources, particularly during its ongoing transitional phase.
