Breish: we must return the assets to the Libyan people

LIA Chairman AbdulMagid Breish

The UK Government has confirmed it does not recognise the Tobruk-based government, or the government based in Tripoli. It instead supports international efforts to establish a Government of National Accord (GNA).

This confirmation came in a letter from the UK Foreign and Commonwealth Office (FCO), which was made public during a trial in London to determine the leadership of the Libyan Investment Authority (LIA). The trial was accordingly adjourned until the GNA’s cabinet of government ministers has been put in place.

The UK Government’s decision is a significant blow to Hassan Bouhadi, who has relied on the legitimacy of the Tobruk government – which can now no longer credibly be described as internationally recognised – as the basis for his claim to lead the LIA.

LIA Chairman AbdulMagid Breish said from Tripoli:

“We welcome the court’s decision to adjourn the trial. We always said that this action was ill-considered, self-interested and a waste of valuable public funds.”

“The international community and the friends of Libya should take note, and refrain from dealing with the parallel institutions in Tobruk that seek to duplicate and replace the long-standing, internationally recognised and technically qualified institutions such as the Central Bank, the National Oil Corporation and the LIA in Tripoli. These national institutions in Tripoli have acted independently and neutrally, and should be allowed to continue to do so.”

“The LIA is a politically independent and neutral organisation, and continues to operate from Tripoli, where it has always been based. It is imperative that this remains the case.”

“We must not lose sight of the main objective – to return the assets that we believe have been stolen from the Libyan people.”

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