United Nations questions legality of Belgium's action on releasing frozen Libyan funds

News In Brief

United Nations questions legality of Belgium's action on releasing frozen Libyan funds

March 02, 2019 - 12:26
Written by: SafaAlharathy

Belgian media outlets revealed a note by the United Nations stating that there was no legal basis for the release of the benefits of frozen Libyan funds by Belgium, Italian Aki news agency reported.

Aki said that the Belgian parliament is investigating the matter to assess the legality of the disposal of about two billion euros of the benefits of Libyan frozen funds and the parties responsible.

The total amount of Libyan funds deposited in Belgium since 2011 amounts to 14 billion euros, of which approximately 13 billion are held by Euroclear Bank.