Libya: Freezing of Assets

(asked on 10th February 2021) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask Her Majesty's Government what assessment they have made of the dispute between the government of Belgium and the Libyan Investment Authority over access to frozen Libyan assets in Belgium.


Answered by
 Portrait
Lord Ahmad of Wimbledon
Minister of State (Foreign, Commonwealth and Development Office)
This question was answered on 24th February 2021

United Nations Security Council Resolution 1970 (2011) decided that all Member States shall freeze assets owned or controlled by individuals or entities listed by the Libya Sanctions Committee. The Resolution also expresses the Council's intention to ensure that assets frozen shall at a later stage be made available to and for the benefit of the people of the Libya. UNSCR 1970 sets out exemptions to the asset freeze. All exemption requests require full and careful compliance with relevant processes and procedures outlined in UNSCR 1970.

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