By prolonging sanctions, permitting the reinvestment of frozen assets, and fortifying travel and arms embargoes, the UN Security Council reiterated its commitment to Libya’s stability.
On Thursday, the UN Security Council passed a resolution reaffirming its support for Libya’s unity, stability, and sovereignty by imposing further restrictions on frozen assets and extending existing sanctions.
With just one Russian abstention, the UK-submitted resolution garnered 14 votes in favor.
In order to stop further destabilization of the nation, it seeks to reinforce the travel restrictions, asset freezes, and arms embargo that were first put in place in 2011.
In addition to allowing the Libyan Investment Authority to reinvest its frozen financial reserves, the resolution contains a crucial clause pertaining to Libya’s frozen assets.
The resolution states that the monies can be used to invest in low-risk time deposits with suitable financial institutions, guaranteeing their value preservation and potential future benefits to the Libyan people.
Following notification from the pertinent member states where the assets are currently kept, the decision will be implemented after consulting with the Libyan government.
The Panel of Experts, which is responsible for monitoring adherence to the sanctions, has been given an extension until May 15, 2026.
Additionally, authorizations to stop the illegal export of Libyan petroleum, which were first adopted under a 2014 resolution, have been extended until May 1, 2026.
The internationally recognized Government of National Unity, which is headquartered in the capital Tripoli and is headed by Prime Minister Abdul Hamid Dbeibeh, has been at odds with another government, which is based in Benghazi and governs the eastern region of the country as well as the southern cities, in recent years.
