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<p>The National Oil Corporation (NOC) is an important institution in Libya with a
vital role to play. It is however vulnerable to malign state actors seeking to benefit
from Libya's political instability and capture of Libyan wealth by a small number
of well-placed individuals through corrupt practices such as fuel smuggling, which
can contribute to regional instability. The UK is therefore supportive of any efforts
to investigate corruption and impropriety in the NOC and advocates greater transparency
on revenue expenditure. The UK is clear that it will investigate any relevant allegations
of corruption falling under the Bribery Act 2010. Overall, the UK believes the only
means of addressing these issues sustainably is through a political settlement under
UN auspices, which it continues to support, including by encouraging all parties to
engage meaningfully.</p>
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