The Libyan Investment Authority (LIA) reported last Monday (2 November) that its Chairman, Ali Mahmoud, held a meeting, on the same day, in Paris at the headquarters of the French Treasury—part of the Ministry of Economy and Finance.
Representing the French side was Emmanuel Chay, Deputy Director in charge of sanctions and the fight against financial crime, accompanied by a team from the department responsible for overseeing sanctions files and frozen assets.
The meeting addressed mechanisms for implementing UN Security Council resolutions concerning the sanctions regime applied to frozen Libyan assets.
The discussion explored ways to allow the LIA to reinvest cash balances currently subject to the freeze—while maintaining their frozen status—with the objective of preserving their value, mitigating erosion, and maximizing returns.
Practical and technical aspects concerning the LIA’s assets and investments in France were also discussed; the Authority manages an investment portfolio in the country valued at over one billion US dollars, comprising bank deposits, financial investments, and real estate assets.
The LIA said this meeting is part of its ongoing efforts to protect its assets, preserve their value, and enhance their management in accordance with relevant international legal frameworks, in coordination with the competent authorities in the countries where the LIA’s assets are located.