Latest news with #LibyanInvestmentAuthority
Libya Observer
10-05-2025
- Business
- Libya Observer
Libyan Investment Authority denies "unfreezing assets" abroad
The Libyan Investment Authority (LIA) has denied claims circulating on social media about the unfreezing of its assets, stressing that such allegations are inaccurate and not based on reliable sources or official reports issued by relevant authorities. In a statement released Friday, LIA clarified that it has not called for the unfreezing of its assets but rather for the full utilization of its assets within the framework of the freeze measures and UN Security Council resolutions on the matter. LIA reaffirmed that all its investment portfolios and sovereign funds are subject to regular oversight by local bodies such as the Audit Bureau and the Administrative Control Authority, as well as international licensed auditors. Its accounts are also regularly reviewed in accordance with globally recognized standards of governance, disclosure, and transparency. LIA strongly denied any communication with parties advocating for the lifting of the freeze, stressing that its periodic briefings and communications are solely with the Prime Minister of the Government of National Unity in his capacity as Chairman of the LIA's Board of Trustees. It concluded its statement by urging media outlets to verify information regarding the frozen assets, noting that it reserves the legal right to pursue those who promote claims that undermine trust in a sovereign institution responsible for managing Libya's assets around the world. Tags: Libyan Investment Authority Libyan frozen assets
Libya Herald
09-05-2025
- Business
- Libya Herald
LIA refutes media allegations that it is seeking to unfreeze and share its assets with Trump administration
The Libyan Investment Authority (LIA) today refuted circulating news alleging that it is discussing (reportedly with the U.S. Trump administration) the possibility of unfreezing of its assets abroad (frozen by a UN Security Council resolution) in return for sharing some of these assets. It insists this news is untrue and is based on inaccurate information and without any official sources. It will be recalled that media outlets reported that the Tripoli government allegedly held talks with the administration of US President Donald Trump about the possibility of sharing billions of dollars of frozen Libyan assets. This proposal to unfreeze and share was allegedly put forward by the Tripoli government when a delegation of U.S. officials visited Libya in early 2025. The sharing of unfrozen assets would be in return for the administration helping release the frozen assets of about US$ 30 billion, which have been frozen since 2011 by a United Nations Security Council resolution. In return, the United States will receive about US$ 10 billion to be reinvested in Libya, focusing on infrastructure and energy projects. In its denial statement, the LIA stressed that the frozen assets file is managed professionally and in accordance with international governance standards, in coordination with the Tripoli government, without demanding the lifting of the freeze, but rather the employment of assets within the framework of UN measures. The statement also stressed that the governor of the institution is subject to periodic monitoring by local (Audit Bureau and Administrative Control Authority) and international bodies. The LIA said it reserves its legal right to pursue those who promote allegations that harm its credibility.
