The A3+ Group at the Security Council expressed its concern on Thursday regarding the ongoing “erosion” of frozen Libyan assets, which is attributed to mismanagement and misuse by certain international financial institutions. The group underscored that the Libyan people are entitled to full reparations for these violations.
This statement was delivered by Algeria’s permanent representative to the United Nations, Amar Bendjama, on behalf of the A3+ Group (comprising Algeria, Somalia, Sierra Leone, and Guyana) during a Security Council session chaired by Algeria, which currently holds the rotating presidency of the UN Council, addressing the situation in Libya.
The meeting occurred following the Council’s vote on a resolution to renew the mandate of the Panel of Experts for the Sanctions Committee on Libya, established under Resolution 1970.
At the outset of his remarks, Bendjama noted that ” Despite the imperfections of this resolution, the A3 Plus has voted in favor, we recognize the merit of many of its provisions and the significant progress that has been achieved in this resolution.”
He emphasized that the A3+ Group “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.”
In this context, Bendjama expressed the group’s “serious concern” regarding the “continuous erosion of Libya’s frozen assets due to misuse or mismanagement by certain international financial institutions. These financial institutions should be held accountable,” asserting that “the people of Libya should benefit from full reparation and compensation for such violation.”
The Algerian diplomat takes good note of “the encouraging progress made on the delisting of sanctioned individuals and entities who no longer meet the criteria for designation.”
He also indicated that “from now on will copy the permanent mission of Libya in New York for relevant correspondence of the sanction committee.” According to him, this represents “another improvement that will enhance the efficiency and transparency of our work as council members and ensure that Libya is formally notified of developments regarding its frozen assets.”
The A3+ Group also recognized the amendments made to paragraph 9 of Resolution 1970, which permits member states to provide technical assistance for establishing a coordination center, in response to a request from the Libyan Presidential Council. Bendjama added that this provision will be implemented in close coordination with, and with the consent of, the internationally recognized legitimate government of Libya.
Regarding the political situation in Libya, the Group reaffirmed its “unwavering commitment to a Libyan-led and Libyan-owned political process under UN auspices,” calling for the immediate withdrawal of foreign forces, fighters, and mercenaries, as well as complete respect for Libya’s unity, sovereignty, and territorial integrity.
” The A3 Plus stands in solidarity with the Libyan people, who have endured tremendous hardship due to miscalculations and hasty decisions made in the past by this honorable Council,” concluded Bendjama.
The A3+ Group has urged the Council to take its responsibilities seriously and support the Libyan people, especially by creating an environment that facilitates free, transparent, and inclusive elections. Such actions would empower the Libyan people to build a better future for themselves and their country.
