Home / Politics / The Libyan Investment Authority welcomes the sanctions committee’s rejection of Belgium’s request to dispose of the frozen funds.

The Libyan Investment Authority welcomes the sanctions committee’s rejection of Belgium’s request to dispose of the frozen funds.

On Saturday, the Libyan Investment Authority welcomed the UN Security Council’s sanctions committee’s rejection of the Belgian authorities ’request to lift the freeze on part of its assets, noting that this step is in line with the applicable sanctions regime and its objectives.

The Foundation confirmed – in a statement on its official page – as an independent sovereign wealth fund that it will not allow any harm to its assets, which are the wealth of future generations, noting its position rejecting the Belgian authorities ’request to use the Foundation’s funds and its subsidiary companies in a manner inconsistent with the objectives of the freeze.

It is worth noting that the representative of Libya to the United Nations, Taher al-Sunni, said on Friday that the Security Council, through the Sanctions Committee, had rejected Belgium’s request to dispose of the frozen Libyan funds.

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