Nations unfreeze Libyan assets

2011-12-18

The UN Security Council on Friday (December 16th) lifted sanctions on Libya's central bank and related Libyan Foreign Bank, in order to help the country deal with a cash crisis, Tripoli Post reported. The bank's assets were frozen as part of sanctions imposed by the UN on Moamer Kadhafi's regime in February.

"Libya's government will now have full access to the significant funds needed to help rebuild the country, to underpin stability and to ensure that Libyans can make the transactions that are essential to everyday life," UK foreign secretary William Hague said, adding that Britain would release $10 billion in assets frozen there.

Source: Magharebia.
Link: http://www.magharebia.com/cocoon/awi/xhtml1/en_GB/features/awi/newsbriefs/general/2011/12/18/newsbrief-01.