Politico on 1st November reported that pressure is mounting on Belgium’s government to explain why payments of hundreds of millions of euros flowed to unknown recipients from frozen accounts in Brussels that once belonged to Libyan dictator, Muammar Gaddafi. A public broadcaster has linked the payments from the Libyan accounts in Brussels to arms shipments. Questions are being asked about why funds were paid out from accounts that were supposed be frozen under UN sanctions. They are also seeking assurances that the money did not end up in the hands of militia in Libya. Payments were made between 2011 and 2017. In September, a UN panel of experts concluded that Belgium had violated UN sanctions. “There has been one or two scandals linked to airplanes seized at the airport in Ostend with arms inside,” an unnamed source is quoted as having said. It is said that the Belgian finance ministry justified interest payments from the Belgian accounts by saying they were in accordance with an interpretation of the sanctions’ rules by RELEX, an expert group at the Council of the EU composed of diplomats from member countries.
UN PANEL FINDS BELGIUM IN VIOLATION OF LIBYA SANCTIONS
On 12th September, Politico had reported that a UN panel of experts on Libya has said that Belgium is in violation of international sanctions targeting assets once owned by the late Libyan dictator Muammar Gaddafi. The UN experts spent months this year traveling across the world — including several trips to Belgium — to investigate whether the frozen funds are in compliance with the 2011 UN sanctions. These assets included the interest payments that made their way from Euroclear – a financial institution headquartered in Brussels – to accounts belonging to the Libyan Investment Authority (LIA). The Panel concluded that payments of interest and other earnings were in non-compliance with the asset freeze.