The Libyan Investment Authority (LIA) renewed a demand that international sanctions on its assets be relieved, to allow it to transfer funds from a frozen account to another account, to avoid negative interest rates.
The sovereign wealth fund has been under UN sanctions since 2011, but says it now wants to be allowed to transfer money from one frozen bank account to another, to avoid being exposed to negativeinterest rates.
It also wants to be allowed to reinvest funds from maturing bonds and to be allowed to make new investments with frozen cash.
An independent report said the Authority approached the UN Sanctions Committee last month, shedding light on the negative impact of the sanctions on its portfolio, indicating that the investment portfolio could have its investment value raised to $40 billion had it not been subject to sanctions.