March 7, 2011 / 2:29 PM / in 7 years

EU to add Libya investment body to embargo -diplomats

BRUSSELS, March 7 (Reuters) - European Union member states are set to extend the sanctions imposed on Libya to include the Libyan Investment Authority, diplomats said on Monday.

“The Libyan Investment Authority is on a new list of Libyan entities being targeted by the sanctions,” one of the diplomats told Reuters.

If no member state voiced any objection by midday on Tuesday, the Libyan investment body would automatically be added to the embargoed list, as would several other financial organisations.

The Libyan Investment Authority is a $70 billion sovereign wealth fund with a holding in Italian soccer team Juventus, along with other investments in Europe.

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