U.N. sanctions change possible when Libya government controls wealth fund


  • World
  • Friday, 01 Apr 2016

UNITED NATIONS (Reuters) - The U.N. Security Council said on Thursday it was ready to consider changes to sanctions on Libya's sovereign wealth fund once a unity government confirms it has control of it, along with the National Oil Corporation and the central bank.

The 15-member council imposed an asset freeze on the Libyan Investment Authority (LIA) in 2011 to prevent the government of former leader Muammar Gaddafi from spiriting away the wealth. A 2011 uprising toppled Gaddafi, but left the country in chaos.

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