Home / Politics / Libyan Investment Authority: 5 EU Countries Used the Interest of the Libyan Frozen Funds

Libyan Investment Authority: 5 EU Countries Used the Interest of the Libyan Frozen Funds

The Libyan Investment Authority reported that five countries of the European Union took advantage of a loophole in the system of freezing Libyan funds and acted on the benefits of these funds.

In a statement sent by e-mail to the Politico newspaper, the Libyan Investment Authority said that the United Kingdom, Germany, Italy, Luxembourg, and Belgium had released benefits for frozen Libyan funds despite international sanctions.

The UN expert team in Libya has denied knowledge of the measures taken by these countries over frozen funds, the paper said.

In February, Belgium distributed tens of millions of euros of Libyan funds frozen in stock markets, bond income and interest payments to “unknown beneficiaries” in bank accounts in both Luxembourg and Bahrain.

The Belgian government radio revealed last month during a program, the registration of the disappearance of about 5 billion euros of Libyan funds frozen in Belgian banks, which was denied by the Libyan Investment Corporation in a statement later.

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