EU says it’s not responsible for the release of interest and dividends of Libya’s frozen funds

The Address | Benghazi – Libya

BRUSSELS – Spokeswoman of the European Union External Action, Maja Kocijančič, denied EU’s responsibility for the release of interest and dividends of Libya’s frozen funds in Belgium and other member states.

Kocijančič said sanctions against Libya, including a freeze on funds, were still pending, calling on the United Nations sanctions committee to clarify the management of frozen Libyan funds.

These statements contrast with Belgium’s justifications that said the government relied on an interpretation from the European Union to release the interest of Libyan funds from Euroclear Bank.

In September, a U.N. panel of experts on Libya said that Belgium is in violation of international sanctions targeting Libyan assets.

Multiple international media outlets reported late October that Libya’s frozen assets in Belgium have been disbursed to people controlling Libyan accounts, including militia groups in the country accused of human rights abuses.

Both the government of Belgium and the Libyan Investment Authority have denied these allegations.

Anger in Libya after Belgium is Accused of Funding Militias from Frozen Gaddafi Accounts


Related Articles