In response to requests for guidance received from Member States concerning the proper implementation of the asset freeze measures, ON 18TH December, the relevant Sanctions Committee issued updated guidance confirming that –
- Assets owned or controlled, directly or indirectly, by the LIA and LAIP, held outside Libya and frozen as of 16th September 2011, remain frozen;
- A specific exception allows the addition by Member States of interests or other earnings or payments to the LIA and LAIP frozen accounts, but such interests or other earnings or payments remain frozen;
- Interests, other earnings or payments on the LIA and LAIP frozen assets arising after 16th September 2011 are also frozen; and
- Assets owned or controlled, directly or indirectly, by the LIA and LAIP, held in Libya or acquired after 16 September 2011, are not frozen. Interests, other earnings or payments on such assets are not subject to the asset freeze.
Earlier Libya assistance notices are at –