Tripoli: The Libyan Investment Authority (LIA) has expressed its approval of the United Nations Security Council’s recent decision, which allows the Authority to reinvest its previously frozen assets. This development has been described by the LIA as a significant move towards modifying the asset freeze measures, enabling their reinvestment and reflecting the Authority’s success in promoting governance, transparency, and adherence to international financial reporting standards.
According to Libyan News Agency, the Security Council’s Resolution No. 2769 of 2025 permits the LIA to invest its frozen cash reserves in low-risk international financial institutions, while ensuring that both the principal and returns remain frozen. The resolution also facilitates the reinvestment of accumulated cash with investment fund managers under the same conditions. The decision includes a review of the remaining aspects of the plan to reinvest short-term frozen assets, which the Authority had submitted to the Security Council early last year.
The LIA emphasized that this decision underscores the “high confidence” the institution has garnered nationally and internationally. It reflects the Authority’s efforts to bolster governance, transparency, and compliance with the Santiago Principles. Furthermore, the LIA has successfully implemented international standards for consolidating and auditing financial statements and developed a clear asset management strategy, reinforcing its status as a sovereign fund committed to global excellence.
The LIA highlighted that this authorization from the Security Council represents the culmination of a collaborative effort with the Council’s Special Committee on Libya. It aims to mitigate the adverse effects of the asset freeze measures imposed since 2011. The Authority views the decision as a crucial step towards optimizing the value of its assets, protecting them from erosion, and ensuring their eventual benefit to the Libyan people.
The institution praised the cooperation from all member states of the Committee on Libya, acknowledging their understanding of the Authority’s efforts to alleviate the negative consequences of the freezing measures. It reiterated that the Security Council’s resolution mandates that these assets and their returns remain frozen, with the focus on reinvestment rather than lifting the freeze.
In its statement, the LIA expressed gratitude to Abdul Hamid Dabaiba, the Head of the Government of National Unity and Chairman of the Board of Trustees, for his support. It also acknowledged the efforts of the Ministry of Foreign Affairs and International Cooperation and the Permanent Mission of Libya to the United Nations in New York. The LIA commended its dedicated team for their role in achieving this milestone and strengthening the institution’s international standing.
This decision by the UN Security Council marks the first instance since 2011 that the LIA is permitted to manage its frozen assets, albeit without lifting the freeze. The resolution seeks to preserve the value of these assets for the eventual benefit of the Libyan populace. Additionally, the Security Council approved a British draft resolution to renew the mandate of the Panel of Experts of the Sanctions Committee on Libya, urging member states to offer technical assistance and training to enhance Libya’s security capabilities.