UN to vote on release of billions of dollars
Source: Agencies |
August 25, 2011, Thursday
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THE United Nations Security Council will vote this week on a resolution releasing billions of dollars in frozen Libyan assets, a British official said yesterday.
Diplomats were holding talks later the same day to consider a draft resolution drawn up by France, the United States and Britain to free up seized Libyan funds to help the country's opposition establish their leadership and pay for vital medical and humanitarian supplies.
"We are engaged at the United Nations and elsewhere to pave the way for the unfreezing of assets, the assets that have been frozen for five months but which ultimately belong to the Libyan people," UK Foreign Secretary William Hague told reporters.
A draft resolution on the topic has been circulated at the UN and it was hoped a vote would take place today or tomorrow.
Prime Minister David Cameron has said the UK hopes to release about 12 billion pounds (US$20 billion) of Libyan assets, while the US says it will soon give Libya's opposition between US$1 billion and US$1.5 billion in frozen Gadhafi regime assets.
The US has said the vast majority of about US$37 billion in Libyan assets it holds is in real estate and other property.
The European Union is also exploring ways to unfreeze billions of dollars in assets to help the National Transitional Council rebuild the Libyan economy, restore essential services, reform the police and the army, and pay government salaries.
Turkey's foreign minister said the issues would be discussed at a meeting in Istanbul today, and financial support for Libya's opposition is likely to be raised next week when France hosts foreign ministers of the "contact group" of nations leading efforts to stabilize Libya.
The head of Libya's opposition government, Mahmoud Jibril, held talks in France yesterday with President Nicolas Sarkozy to discuss what assistance his authority needs in the future.
Sarkozy, who championed the costly NATO airstrike campaign against Gadhafi's forces despite a stalemate in recent months, lauded the oft-criticized military alliance.
"The tenacity of the allied forces paid off," he told a Cabinet meeting.
France was the first country to recognize Jibril's government and has been a driver of the NATO airstrike campaign against Gadhafi's forces.
The UN is also working on a post-conflict plan for Libya.
Diplomats were holding talks later the same day to consider a draft resolution drawn up by France, the United States and Britain to free up seized Libyan funds to help the country's opposition establish their leadership and pay for vital medical and humanitarian supplies.
"We are engaged at the United Nations and elsewhere to pave the way for the unfreezing of assets, the assets that have been frozen for five months but which ultimately belong to the Libyan people," UK Foreign Secretary William Hague told reporters.
A draft resolution on the topic has been circulated at the UN and it was hoped a vote would take place today or tomorrow.
Prime Minister David Cameron has said the UK hopes to release about 12 billion pounds (US$20 billion) of Libyan assets, while the US says it will soon give Libya's opposition between US$1 billion and US$1.5 billion in frozen Gadhafi regime assets.
The US has said the vast majority of about US$37 billion in Libyan assets it holds is in real estate and other property.
The European Union is also exploring ways to unfreeze billions of dollars in assets to help the National Transitional Council rebuild the Libyan economy, restore essential services, reform the police and the army, and pay government salaries.
Turkey's foreign minister said the issues would be discussed at a meeting in Istanbul today, and financial support for Libya's opposition is likely to be raised next week when France hosts foreign ministers of the "contact group" of nations leading efforts to stabilize Libya.
The head of Libya's opposition government, Mahmoud Jibril, held talks in France yesterday with President Nicolas Sarkozy to discuss what assistance his authority needs in the future.
Sarkozy, who championed the costly NATO airstrike campaign against Gadhafi's forces despite a stalemate in recent months, lauded the oft-criticized military alliance.
"The tenacity of the allied forces paid off," he told a Cabinet meeting.
France was the first country to recognize Jibril's government and has been a driver of the NATO airstrike campaign against Gadhafi's forces.
The UN is also working on a post-conflict plan for Libya.
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