The Brussels court ordered on Thursday that frozen assets owned by the Libyan Investment Authority (LIA) are not to be transferred outside the Euroclear accounts, after imposing a precautionary attachment on those assets.
The ruling stipulates that the assets which amount to $ 15 billion USD remain in the Euroclear banks and not to be moved to other accounts under the supervision of the Belgian judiciary. The LIA considered the decision as a “judicial victory.”
In a statement yesterday, the LIA explained that the assets were seized as a precautionary measure in the framework of the ongoing investigations.
For his part, the LIA head, Ali Mahmoud, emphasized that they have approached all legal means to preserve these important assets for the benefit of future generations.
The LIA reaffirmed it would continue on with its strategy to protect its assets, the independence of its legal personality, and interests away from the Libyan government, confirming its full commitment to the sanctions imposed by the Security Council.