Belfast Telegraph

Thursday 10 July 2014

Deal agreed to release Libya assets

President Barack Obama's administration asked the UN Security Council to unfreeze Libyan assets

A deal has been reached with South Africa to release 1.5 billion US dollars in Libyan assets in American banks, a US official said.

Mark Kornblau, spokesman for the US Mission to the United Nations, said the deal clears the way for the United States to give the money to the cash-strapped rebels for urgent humanitarian needs.

South Africa had blocked agreement in the Security Council committee monitoring sanctions against Libya on unfreezing the money over concerns that it implied recognition of the opposition National Transitional Council.