China calls for protection of Libya’s frozen assets

China has warned that Libya’s frozen overseas assets must be protected, urging the international community to prevent any loss of funds as political uncertainty drags on.

Speaking at the UN Security Council on February 18, Beijing’s envoy said safeguarding those assets was  a shared responsibility and stressed that any erosion of their value would be “unacceptable”, as reported by The Libya Observer.

Libya’s frozen overseas assets recently re-emerged as a point of international interest after newly released documents show Jeffrey Epstein and associates discussed plans to exploit the political turmoil in Libya, during the fall of Gaddafi,  to pursue access to billions of dollars in frozen state funds, including potential involvement from former British and Israeli intelligence figures.

China’s representative argued that clear directives were needed to allow the reinvestment of Libya’s frozen assets, saying this was essential to preserving the country’s legitimate rights.

Turning to the wider situation in Libya, the envoy said progress in the country’s political process remained slow and required renewed momentum. He pointed to a persistent lack of mutual trust between Libyan parties as a central barrier, warning that divisions continued to stall efforts to move forward.

He also highlighted the challenges facing the United Nations Support Mission in Libya, describing its workload as demanding. Among its priorities, he said, were attempts to restructure the electoral commission and secure agreement on a viable electoral framework, both of which remain unresolved. China, he added, supports the mission’s efforts to convene an organised and inclusive dialogue capable of delivering concrete outcomes.

Security concerns featured prominently in his remarks. The envoy described Libya’s security environment as fragile and said recent events had underscored the country’s instability. He noted that the killing of Saif al-Islam Gaddafi had heightened tensions, serving as a stark reminder of the risks posed by unresolved conflict.

Concluding his address, the Chinese representative called on all sides to show restraint. He urged Libyan actors to reject violence, settle disputes through peaceful means and refrain from unilateral actions that could further undermine stability.

The Libya Observer, Maghrebi.org