Open

Coming up

Don't miss

Replay


LATEST SHOWS

THE WORLD THIS WEEK

The World This Week - 01 August 2014 (part 2)

Read more

MEDIAWATCH

Coverage of Gaza in the Israeli media

Read more

REPORTERS

1914-1918: The Depths of Hell

Read more

THE WORLD THIS WEEK

The World This Week - 01 August 2014

Read more

THE INTERVIEW

Exclusive: Israel's US ambassador speaks to FRANCE 24

Read more

#THE 51%

World War One: The war that changed women’s lives

Read more

FRANCE IN FOCUS

Ségolène Royal goes for green

Read more

THE OBSERVERS

A look back at some of the Observers' best stories

Read more

DEBATE

Argentina Defaults: Kirchner Cries Foul Over 'Vulture Funds' (part 2)

Read more

  • Hamas denies capturing Israeli soldier as Gaza truce lies in tatters

    Read more

  • Scores killed in China factory explosion

    Read more

  • Exclusive: Israel's US ambassador speaks to FRANCE 24

    Read more

  • Police chokehold caused NYC death, coroner rules

    Read more

  • France tops requests to erase online footprint, says Google

    Read more

  • Air France ground workers to strike on August 2

    Read more

  • Rogue general denies Islamist seizure of Benghazi

    Read more

  • Ugandan court strikes down anti-gay legislation

    Read more

  • 1914-1918: The Depths of Hell

    Read more

  • Regional summit to tackle deadly Ebola outbreak

    Read more

  • French hospital to open wine bar for terminally ill patients

    Read more

  • Video: Tipping is dying out in French café culture

    Read more

  • €2.5 million in cocaine ‘disappears’ from Paris police HQ

    Read more

  • Appeal court keeps French rogue trader Kerviel in jail

    Read more

  • Interactive: France’s new plan to counter jihadism in Africa

    Read more

  • Ukrainian army suffers losses in separatist attack

    Read more

Africa

UN authorises UK release of frozen Libyan assets

Video by Olivia Salazar-Winspear

Text by News Wires

Latest update : 2011-08-31

The UN committee responsible for overseeing sanctions on Libya gave the go-ahead Tuesday for the UK to release $1.6 billion in frozen Libyan assets in order for the country to buy humanitarian aid and keep essential services operating.

AFP - The UN sanctions committee on Libya on Tuesday gave Britain the green light to release $1.6 billion in seized assets to buy emergency aid, after China lifted a block, diplomats said.

Germany also has asked to release about one billion euros ($1.4 billion dollars) in seized assets, and France wants to unfreeze about five billion euros ($7.2 billion) to help buy humanitarian aid and keep essential services going in Libya. It was not immediately known if they have been given the green light, however.

Gaddafi's Remaining Allies

China's UN mission, a key member of the UN Security Council sanctions committee, lifted its block on Britain's move after getting approval from the Beijing government, diplomats said.

The money held in Britain is 1.86 billion Libyan dinar in banknotes printed by a British firm.

Britain's Foreign Secretary William Hague welcomed the decision to let his government send back the 200 million banknotes to Libya's central bank.

"This represents another major step forward in getting necessary assistance to the Libyan people, building on the remarkable progress in recent days," Hague said in a statement released at the UN headquarters.

"These banknotes, which were frozen in the UK under UN sanctions, will help address urgent humanitarian needs, instill confidence in the banking sector, pay salaries of key public sector workers and free up liquidity in the economy."

The United States was given approval to send about $1.5 billion in seized assets back to Libya last week, after a dispute with South Africa over whether easing UN sanctions implied recognizing Libya's rebel government fighting Moamer Kadhafi.


 

Date created : 2011-08-30

  • LIBYA

    Inside Gaddafi’s underground labyrinth

    Read more

  • LIBYA

    Libya's interim leaders give ultimatum to Gaddafi forces

    Read more

  • LIBYA

    UN Security Council to discuss Gaddafi sanctions

    Read more

COMMENT(S)