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EU Imposes Restrictions On Libyan SWF

The European Union member states have expanded sanctions against the Libyan Investment Authority.

The European Union (EU) member states have expanded sanctions against the Libyan Investment Authority (LIA), Reuters reports. The sanctions aim to freeze the European holdings of LIA and any other stakes that asset management firms oversee on behalf of the sovereign wealth fund.

The authority has significant shareholdings in UniCredit, Italian defense and aeronautical group, Finmeccanica, Juventus Football Club and Pearson. The EU has already imposed a range of sanctions on Libyan individuals.

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