Lana Local Affairs Editor Cautions on Danger that Threaten Libya's Assets Frozen Abroad.Pulbished on:
TRIPOLI, 20 January, 2021 (Lana) - As conflict between Libyan rivals rages over power at home, competition abroad between foreign countries and governments over Libya's investments and frozen funds in foreign banks, particularly European ones is unleashed, upon a UN Security Council Resolution No 1972, the latest of which was the Belgian finance minister's approval to notify the UN Sanctions Committee to lift the freeze to deduct part of Libya's frozen bank assets in Belgium for the Prince Laurent Foundation, estimated at 47 million euros.
Commenting on this Belgian action and the virtual meeting held recently between the Sanctions Committee on Libya, affiliated to the UN Security Council and the Management of the Libyan Investment Corporation, Lana Local Affairs Editor, called on all Libyan parties to seriously consider the danger that threaten Libya in its entity, independence, sovereignty and funds, which call for the national interest to prevail over narrow partisan, regional and tribal interests, and to get Libya out of this dark tunnel, and this bloody conflict by agreeing on that the interests of Libya and Libyan people is above all personal interests, and they are first and foremost.
The editor warned that prolonging the Libyan crisis will not serve Libya or the Libyan people, but rather will be conducive to the interests and ambitions of foreign powers, and arouse the appetite of foreign states and governments to seize Libya's funds in violation of international laws and norms, expressing serious concern about the fate of the huge Libyan funds frozen abroad.
Lana editor underscored the intervention made by Libya’s representative to the United Nations, Taher Al-Sunni, during the virtual meeting between the sanctions committee and the management of the Libyan Investment Corporation, in which he stressed the urgent need to work to put an end to the losses suffered by the Libyan people frozen funds, which threatens them with continued erosion, as a result of exploitation from some countries and financial institutions, constitutes an infringement on the wealth of the Libyan people allocated to future generations.
The editor said that the intervention of the Libyan representative and the discussions that took place during the virtual meeting recalls the motives of the UN Security Council when making a special decision on Libya, the most important of which is the keenness of the international community not to provide the opportunity to tamper with the wealth of the Libyan people invested in assets and deposits outside Libya, as these assets are a trust for Libya’s future generations.
The editor added that the enforcement of Chapter VII of the UN Charter on the Libyan situation during 2011, in article 41, provides the framework in which the Security Council may enforce its decisions with comprehensive economic and trade sanctions and to take more targeted measures to preserve Libya's funds.
The political editor went on to say: "However, the United Nations and the Security Council did not equip its Resolution 1972, particularly with regard to Libyan funds and deposits, with the immunity necessary to prevent its violation from any local, regional or international entity, and to prevent some from trying to exploit the difficult circumstances that Libya is undergoing and infringe on these funds and deposits by opportunists.
"The UN Security Council is required more than ever to enforce its decision on these funds, which are considered a trust in its custody until Libya establishes a unified state capable of safeguarding these funds and harnessing them to serve the Libyan people," concluded local affairs editor at the Libyan News Agency.