On 24 April, the International Crisis Group published a report titled ‘Frozen Billions: Reforming Sanctions on the Libyan Investment Authority’. The report looks at the restrictions imposed by the UN Security Council on Libya’s sovereign wealth, which has been under UN sanctions since the revolt against Muammar al-Qadhafi in 2011. While the UN has eased the measures, which restrict investment that would enlarge the fund, the report urgers further changes and reforms that would better protect the Libyan people’s patrimony while posing minimal risks. ‘Since resolution of Libya’s political crisis is not imminent, they should also define a realistic plan for long-term sanctions relief. The fund should do more to enhance its credibility and transparency,’ the report says.
Read the full report here.