2018
Explanatory memorandum to assist in implementation No. (5) regarding the proper implication of the resolutions concerning with the payment of the frozen assets’ management fees.
2018
Explanatory memorandum to assist in implementation No. (6) Regarding the Freezing of Returns and Other Profits on Frozen Assets
2018
UN Security Council Resolution 2441 of 2018 regarding the intensification of the work of the panel of experts assigned with safeguarding the frozen assets
2012
Explanatory memorandum to assist in implementation No. (1) regarding the non-freezing of the assets of the LIA’s subsidiaries and the LAIP.
2011
UN Security Council Resolutions 1973, 1970, and 2009 in 2011, which called for the freezing of assets and funds owned by the Libyan Investment Authority in order to protect the assets of the Libyan sovereign wealth fund during the political events of that period
Key Points of the UN Security Council Resolution 2769/ 2025
The UN Security Council Member of State Statements Regarding Resolution 2769/2025
United Kingdom :“The United Kingdom is grateful to all members of the Council for their constructive engagement throughout the negotiation of this resolution (resolution 2769 (2025)). Today’s resolution is an important step, ensuring that the United Nations sanctions regime on Libya remains fit for purpose and in the service of the Libyan people…, for the first time, the Libyan Investment Authority will be allowed to reinvest frozen cash reserves to safeguard the assets for the future benefit of the Libyan people”
Russian Federation :“We would like to underscore the need to protect the integrity of the frozen Libyan assets for the benefit of the Libyan people, as we have stated in the relevant Security Council documents. Those moneys are blocked not to punish anyone, but rather to safeguard them. It is important to ensure that the sanctions decisions by the Council do not impede the Libyan authorities from implementing their goals to advance the country’s socioeconomic development”
Pakistan :“The assets freeze measures stipulated in the resolution are not meant to be punitive in nature; their main objective is to protect the assets for the benefit of the Libyan people at a later date. The frozen assets, which are indeed for the future benefit of the Libyan people, should be allowed to be reinvested to preserve their value and prevent their depletion. We are therefore happy that the recommendations pertaining to the investment of frozen Libyan assets of the Panel of Experts of the Committee established pursuant to resolution 1970 (2011) concerning Libya have been endorsed in the resolution we have adopted. We are also pleased that the suggestion supported by my delegation of copying all correspondence related to the frozen assets to the Libyan Mission has also been incorporated. Keeping the Libyan Mission in the information loop will enhance transparency.”
China : “The Security Council has imposed an assets freeze on the Libyan Investment Authority since 2011. Such measures have played a special role in a specific period. Nonetheless, in recent years, Libya has repeatedly expressed concerns to the Council about the loss of its frozen assets, and there have been increasing calls for adjustments to the assets freeze. The original purpose of the assets freeze was to protect the wealth of the Libyan people, not to penalize them. All the parties concerned have a responsibility to preserve the integrity and security of the frozen assets. China welcomes the fact that the resolution allows the Libyan Investment Authority to reinvest the frozen cash reserves, which is a major step towards enabling the preservation and appreciation of the value of the frozen funds. The relevant international financial institutions should step up their communication with the Libyan Investment Authority so as to implement the resolution without delay, while transparency and impartiality should be upheld to avoid any arbitrary misappropriation or misuse of the frozen assets, with a view to safeguarding the shared wealth of the Libyan people.”
Algeria and the A3+ : “ The A3+ welcomes the Council’s first-ever decision to finally allow the Libyan Investment Authority to reinvest its frozen assets in order to preserve their value for the benefit of the Libyan people at a later stage.”
Greece : “The resolution addresses concerns expressed by the Libyan Investment Authority in relation to the assets freeze measures. The relevant provisions of the resolution enable the reinvestment of the Libyan Investment Authority’s frozen assets under certain conditions while the assets remain frozen. Taking into account the protective nature of the assets freeze measures, the approach followed in the resolution is aimed at safeguarding the interests of the Libyan people and preserving the value of the frozen assets for the benefit of the Libyan people at a later stage.”
The UN Security Council Praises The Libyan Investment Authority’s Cooperation with the Panel of Experts.
The security council commends The LIA’s fruitful cooperation with the Panel of experts, encouraging the LIA to further enhance its efforts and improvement in reporting accurate consolidated financial statements in accordance with international standards, including the subsidiaries’, as outlined in the resolution
Welcoming the Libyan Investment Authority’s (LIA) increasing cooperation with the Panel of Experts and calling on the LIA to continue to improve its efforts to offer accurate consolidated financial statements in accordance with international standards and to provide financial statements of its subsidiaries
Welcoming the LIA’s Efforts in Enhancing Transparency and Financial Accountability
The Security Council welcomes the LIA’s exerted efforts in enhancing transparency and compliance by leveraging specialised international accounting and auditing firms to provide accurate financial statements that adhere to International standards. Moreover, the Council encourages the LIA to continue these efforts for the benefit of the Libyan people, as outlined in paragraph 15 of the resolution .
Welcomes the LIA’s efforts to enhance transparency and compliance by working with international accounting and auditing firms to provide accurate audited consolidated financial statements in accordance with international standards, requests the LIA to continue these efforts and to further improve the accuracy and comprehensiveness of its investment plan, risk management policy and asset allocation guidelines, clarifying data inaccuracies and inconsistencies and addressing conflict of interest issues, and requests the Panel of Experts to provide an updated assessment of the LIA’s updated investment plan in their final report
The UN Security Council calls for Member States to Safeguard the Frozen Assets
In accordance to paragraph 17 of resolution 1970 (2011), the Security Council emphasises the importance of preserving the frozen assets in order to be available in the future for the benefit of the Libyan people. It emphasize that the aim of the freezing measures is to preserve their value, and calls for all Member States to ensure their preservation and prohibit any illegal misuses, as outlined in paragraph 13 of the resolution( Emphasises that assets frozen pursuant to paragraph 17 of resolution 1970 (2011) shall at a later stage be made available to and for the benefit of the Libyan people, further emphasises that the asset freeze measures are intended to be protective, and calls upon all relevant Member States to protect frozen assets for the future benefit of the Libyan people, including by preventing misuse and misappropriation of frozen assets)
International Support to Improve the Asset Managements
The UN Security Council calls on member states and relevant financial institutions to cooperate with the LIA by enhancing the exchange of any information related to the frozen assets, which will contribute in improving their managements in accordance with international best practices, as outlined in paragraph 16 of the resolution
Urges Member States to minimise the risk of asset diversion, misappropriation and non-compliance with the asset freeze, and to ensure that the asset freeze is complied with, and encourages Member States and relevant financial institutions to cooperate with the LIA by providing relevant information regarding their frozen assets, as appropriate and applicable
Reconsidering the Freezing Measures to Avoid Harming the Frozen Assets
In response of the exerted efforts, the UN security council has decided to permit the LIA to invest its frozen cash reserves in low-risks time deposits with selected financial institutions while remaining under freeze, and to reinvest accumulated cash returns with investment fund managers ,while keeping these returns under freeze. The resolution also provides for a review of the remaining provisions of the LIA’s short term investment plan ;which was submitted in early 2024 , during the coming period, as stated in paragraph 14 of the resolution ( Welcomes the recommendations by the Panel of Experts in its final report (S/2024/914) on possible actions that could enable the reinvestment of the LIA’s frozen assets for the purpose of preserving their value and benefiting the Libyan people at a later stage)
2017
Establishing Communication Channels with the UN Security Council established pursuant to resolution 1970 of 2011 concerning Libya
2019
Briefing the Security Council Committee with the LIA’s transformation Strategy
2020
Monitoring the Negative impacts of the freezing regime and lunching a dialogue with the UN SECURITY Council Committee in this regard
2021
Continuing the transformation and transparency Strategy
2023
Highlighting the LIA exerted efforts in the transformation strategy which is concerned with auditing, reviewing, and transparency , and encourage the committee to allow the LIA to reinvest its assets
2023
The UN Security Council resolution of approving the proposed investment plan
2024
Submitting the short term investment plan to the Security Council
2025
The Security Council resolution of permitting the LIA to reinvest its frozen assets
