Tripoli: The Libyan Investment Authority has expressed its satisfaction with the recent decision by the Belgian judiciary to lift the seizures on its funds. This development marks a significant victory for the Authority, which has been engaged in a lengthy legal battle to protect its assets.
According to Libyan News Agency, the Authority issued a statement on Wednesday, celebrating the Brussels Court of Appeal’s ruling that ordered the removal of all judicial seizures on its funds at Euroclear Brussels Bank. The statement affirmed that there are no longer any legal constraints on the Authority’s assets in Belgium.
Despite this positive outcome, the Libyan Investment Authority clarified that its funds remain subject to international asset freeze measures imposed by the United Nations Security Council since 2011. The judicial seizures were originally enforced following a decision by a Belgian investigating judge in October 2017.
In its statement, the Authority highlighted its persistent efforts to challenge the seizures, having lodged numerous objections and cases in Belgian courts as part of its legal strategy to safeguard its assets.