Don't miss

Replay


LATEST SHOWS

REPORTERS

The booming business of cannabis in Spain

Read more

EYE ON AFRICA

Tanzanian President dismisses almost 10,000 public servants over forged college certificates

Read more

MEDIAWATCH

French Election: Abstention, Anger & Apathy

Read more

THE WORLD THIS WEEK

Macron vs. Le Pen: France's bitter presidential run-off race (part 1)

Read more

THE WORLD THIS WEEK

Trump's First 100 Days, The Pope in Egypt (part 2)

Read more

FOCUS

Egypt's Coptic Christians targeted by Islamic State group

Read more

THE CAMPAIGN BEAT

France's wartime past takes centre stage in presidential campaign

Read more

#TECH 24

How one NGO is using 3D printers to improve disaster relief

Read more

REVISITED

What remains of Nicaragua’s revolution?

Read more

France

France to release Libyan funds, but denies oil pact

Text by News Wires

Latest update : 2011-09-01

French Foreign Minister Alain Juppe (pictured) said Thursday that France would release 1.5 billion euros in Libyan assets to help in the country’s reconstruction, but denied knowledge of a prearranged oil deal between the two countries.

REUTERS - France has approval to release 1.5 billion euros ($2.16 billion) of Libyan assets to help the country’s interim ruling council rebuild the country, French Foreign Minister Alain Juppe said on Thursday.

The minister also said he was unaware of a reported deal between France and Libya’s interim rulers that would grant the former access to a large share of Libya’s oil.

Juppe, interviewed on RTL radio shortly before the start of an international conference on Libya in Paris, said the situation in Libya had largely stabilised and it was now time to help the interim rulers after the overthrow of Muammar Gaddafi.

France revealed on Wednesday that it had asked the United Nations Sanctions Committee to unfreeze 1.5 billion euros of a total 7.6 billion euros in assets parked in French banks.

“We have to help the National Transitional Council because the country is devastated, the humanitarian situation is difficult and there’s a lack of water, electricity and fuel,” Juppe said.

The French newspaper Liberation reported on Thursday that it had obtained a letter showing that the National Transitional Council had agreed in April to give France priority access to 35 percent of Libya’s oil.

“I am not aware of this letter,” said Juppe.

“What I know is the National Transitional Council said very officially that concerning the reconstruction of Libya it would turn in preference to those who helped it. That seems fair and logical to me.”

“There’s a declaration by the National Transitional Council but I am not aware of a formal deal. We’re not alone. Italy is also there, (and) the Americans. You know this operation in Libya costs a lot. It’s also an investment in the future because a democratic Libya is a country that will develop, offering stability, security and development in the region.

Date created : 2011-09-01

  • DIPLOMACY

    France gives millions in Gaddafi funds to rebels

    Read more

  • SYRIA

    French ambassador visits flashpoint city of Hama

    Read more

COMMENT(S)