US institutional investors have called on oil giants including BP, Shell, Exxon Mobil and ConocoPhilips with business in Libya to halt revenue payments to the government and pay them into an escrow account after the shooting of hundreds of protesters in the country. The call comes after United Nations Security Council sanctions against Libya were approved last weekend followed by a European Union arms embargo, asset freeze and visa ban. The investors belong to the Conflict Risk Network (CRN), a hundred-strong group, which includes the $140.6bn New York State Common Retirement Fund. Oil is the primary funding source for the Libyan government, accounting for 95% of its export earnings and 80% of its domestic revenue.