The chance to improve Libya’s long-term future should not be missed. Modest reforms carry low risk and could better protect Libyan wealth. They would also boost the credibility of UN sanctions, which risk fair criticism as outdated. The Council and LIA should take action. End/

The reforms remove important curbs on the fund, but sanctions still block it from growing to its full potential. What should be done? 7/

In January 2025, the Security Council made a novel decision to reform the LIA sanctions regime by allowing the fund to invest its cash reserves, as long as the reinvested funds and the interest they accrue remain frozen. 6/

But sanctions may have also saved the LIA. After the revolution, other Libyan institutions were dogged by allegations of corruption and misappropriation. The LIA was not, at least not on the same scale. Sanctions protected the LIA from graft. 5/

Years of sanctions have curbed the LIA's growth. Billions of dollars sat in cash for 10+ years without the LIA being able to reinvest them. The LIA's growth stagnated while other wealth funds, and the markets, soared. 4/

Almost 15 years after the revolution, Libya is still embroiled in political and economic turmoil. Political elites benefit from the country’s enormous oil wealth, but the Libyan people see little of it. 3/

I went to Tripoli with my colleague @claudiagazzini.bsky.social to understand what the sanctions on the fund, the Libyan Investment Authority (LIA), mean for Libyans. 2/

"When Syria rebuilds, it's going to have to move beyond the illicit economy. It will have to reinvigorate industry and the banking sector. This will be really difficult with sanctions in place." My interview with @mattgalloway.bsky.social on
@cbcradiocanada.bsky.social
cbc.ca/listen/live-...

I talked to @AsharqBusiness about the path to economic recovery in Syria and why it will be seriously obstructed without sanctions relief.
now.asharq.com/clip/%D9%83%...

This morning I talked to BBC's Lyse Doucet about the steps Western governments can take right now to help Syria get on its feet. Failing to take action on #sanctions relief is like pulling the rug out from under Syria just as it's trying to stand.