A Libyan parliamentarian called on the Libyan Investment Authority (LIA) on Sunday to accelerate efforts to determine the fate of Libyan funds that have been unfrozen by Belgium.
Member of the House of Representatives (HoR) Abdul Salam Nasia called on the Attorney General to assign a judge to investigate the case.
“We want to know where these funds have gone. We do not care about how Belgium released the frozen funds,” Nasia tweeted.
The LIA stated that the “conclusions” of the United Nations Panel of Experts on the disposal of the interests of the Libyan frozen assets in Belgium were “erroneous,” stressing its commitment to the rules and regulations established by the United Nations, including the sanctions regime.
The LIA confirmed via Facebook that since the end of October 2017, no breaches regarding the institution’s funds deposited in Belgian banks have been recorded, reaffirming that there has been no transfer of any funds from the institution’s accounts at the bank, “Euroclear”.
The LIA clarified that the assets were frozen under the sanctions regime imposed by the U.N. Security Council in early 2011, which was amended at the end of the same year, including provisions on the return of frozen assets of interest and accrued profits.
The LIA explained that some countries such as Britain, Belgium, Germany, Italy, and Luxembourg interpreted the decision as a lifting of the freeze on the interests and profits of frozen assets.
