EU extends economic sanctions on Libya

The European Union formally extended its embargo on Libya to include five financial organizations and one individual on Thursday, with the restrictions taking force from Friday, diplomats said.
The Libyan Investment Authority is a sovereign wealth fund with around $70 billion invested across a range of European assets, including banks, the Juventus soccer team, Italian carmaker Fiat FIA.M, defence company Finmeccanica SpA and British-based publisher Pearson.