The Libyan Investment Authority (LIA) has denied reports claiming it submitted a request to the United Nations Security Council to lift the freeze imposed on its assets since 2011, emphasizing that its priority remains protecting and improving the management of Libya’s sovereign wealth.
In an official statement, the authority said it remains committed to a long-term reform strategy focused on governance, transparency, and sustainable asset management in accordance with international standards followed by major sovereign wealth funds.
The institution highlighted what it described as unprecedented achievements in recent years, including the successful auditing of its financial statements and the preparation of consolidated accounts under International Financial Reporting Standards for the first time in its history. According to the statement, the process included all affiliated companies and investment portfolios.
The authority also pointed to progress in implementing the Santiago Principles, internationally recognized standards governing sovereign wealth fund operations. Officials said the institution adopted advanced governance, investment, and risk management policies aligned with global best practices.
In addition, the authority noted efforts to strengthen institutional performance through the recruitment of qualified young professionals and the continued implementation of the SAP management system across accounting, procurement, governance, and investment sectors.
On the legal side, the institution stated that it successfully defended its assets against international claims seeking to use Libyan sovereign funds to settle unrelated obligations. It said all legal cases brought against it by external parties had been resolved in its favor, reinforcing its international legal standing.
The authority also stressed that recent UN Security Council resolutions issued in 2025 and 2026 reflect growing international confidence in its ability to manage assets responsibly while fully respecting the existing asset freeze measures.
Officials clarified that the institution never requested the lifting of the asset freeze. Instead, its proposals focused solely on allowing the reinvestment of frozen cash reserves under international financial regulations in order to preserve asset value and improve long-term returns.
The authority further announced plans to appoint an international auditing firm to review and reconcile certain outstanding investments held by third parties as part of broader efforts to strengthen asset protection and transparency.