Turkey has decided to freeze the assets of the Libyan Investment Authority and the Libyan Africa Investment Portfolio in line with a decision by the United Nations Security Council.

The decision on the freezing of the assets of the two legal entities was published in the issue of the Official Gazette on May 20. The decision stated that one of the institutions, Libya Africa Investment Portfolio, was under the control of former Libyan leader Muammar Gaddafi and his family.

Libya has been in turmoil since a 2011 NATO-backed uprising killed longtime dictator Gaddafi, with rival armed factions still vying for power.