Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

« The dress » is back but why don’t we see black and blue ?

Read more

REPORTERS

Chad's war against Boko Haram

Read more

THE WORLD THIS WEEK

Rape in India, Russia after Nemtsov, France scolded for Smacking

Read more

THE WORLD THIS WEEK

Netanyahu Warns Congress against Iran; Clinton's Got Mail

Read more

#THE 51%

Gender equality in the classroom: A delicate balancing act

Read more

FRANCE IN FOCUS

Inside a school for imams

Read more

#TECH 24

MWC 2015: New smartphones unveiled

Read more

IN THE PAPERS

Paris, world tattoo capital

Read more

IN THE PAPERS

'Fair play won't stop Putin - it's time for sterner stuff'

Read more

France

France to release Libyan funds, but denies oil pact

Video by Mounia BEN AÏSSA , Shona BHATTACHARYYA

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)