The British Office of Financial Sanctions Implementation announced that it will impose sanctions on individuals and institutions in Libya in order to ensure the stable continuation of the political process in Libya and to prevent smuggling and human rights activities.
In the statement, it was expressed that the sanctions are independent of European Union (EU) sanctions and are in line with UN Security Council resolutions.
It was stated that the sanctions included freezing the financial assets of the Libyan Investment Agency (LIA) and the Libyan African Investment Portfolio (LAIP). In addition to this, it was mentioned that the main purpose of the sanctions was to support the reconciliation and peace process in Libya.
The Gaddafi regime has been accused for many years by the UK of allocating weapons and financially supporting the separatist Irish Liberation Army (IRA).
Accordingly, the relatives of the people who lost their lives in the terrorist attacks of the IRA made a request to the British government in 2017 for Gaddafi’s €12 billion worth of cash, real estate and investments in England to be paid to them as compensation.
Libya’s ousted leader Muammar Gaddafi is touted by the victims of the IRA as the financier of the attack known as the Harrods Explosion in 1983.