| Libya is asking the U.N. Security Council to approve a sanctions exemption for its blacklisted sovereign wealth fund to halt billion-dollar losses caused by ineffective management of frozen assets, according to a letter released on Wednesday.
The letter from Libya's ambassador to the United Nations, Ibrahim Dabbashi, said the losses incurred at the Libyan Investment Authority (LIA) are the result of U.N. sanctions imposed in 2011 to prevent the government of former leader Muammar Gaddafi from spiriting away the country's wealth...............................................Full Article: Source
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