Today’s resolution strengthens measures to counter illicit oil exports in Libya: UK Explanation of Vote at the UN Security Council

The United Kingdom thanks Council members for their constructive approach during negotiations on this resolution.

Today's resolution underscores this Council's commitment to peace and security in Libya, and to protecting the interests of the Libyan people.

It strengthens measures to counter illicit oil exports, ensuring concerted international action against oil smuggling in Libya.

The UK looks forward to further engagement with Council members to consider how measures might also be applied to regional organisations.

This resolution also enables the Libyan Investment Authority to transfer the role of global custodian, under Committee oversight, while maintaining the asset freeze and safeguarding these assets for the future benefit of the Libyan people.

It also supports a comprehensive audit of the Libyan Investment Authority's frozen assets, including through cooperation with Member States and financial institutions.

Lastly, President, we congratulate Libya's leaders on the recent milestone agreement on a unified national budget, and welcome US support in facilitating this.

The agreement's implementation will represent significant progress in the responsible management of Libya's economy and respect for its financial institutions.

We urge Libyan stakeholders to also make progress on the UN-facilitated, Libyan-led political process.