Italy may unfreeze $3.6 bn of Libyan assetsSeptember 4th, 2011 - 9:26 am ICT by IANS
Rome, Sep 4 (IANS/RIA Novosti) Italy plans to release 2.5 billion euros ($3.6 billion) of Libya’s assets and transfer it to the rebel-led government, Italian Foreign Minister Franco Frattini said.
Italy, once Libya’s closest partner in Europe, froze about seven billion euros of Libyan assets after the UN imposed sanctions against Muammar Gaddafi, who was toppled after a 42-year reign.
Frattini said Saturday the assets could be unfrozen within one or two weeks after the UN sanctions committee’s approval is received.
France has already pledged to unblock five billion euros for the rebel National Transitional Council out of Libya’s French-based 7.6 billion euros.
French authorities say Gaddafi’s government reportedly has a total of 50 billion euros in assets all over the world.
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- Italy calls on Gaddafi to surrender - Aug 22, 2011
- US lifts most sanctions against Libya - Dec 17, 2011
- Italy seizes Gaddafi assets worth $1.4 bn - Mar 30, 2012
- Japan freezes $4.4 bn worth of Gaddafi regime assets - Jun 04, 2011
- Gaddafi threatens to kill Berlusconi: Italian daily - Jul 31, 2011
- 'France, Britain to continue military operation in Libya' - Sep 16, 2011
- Russia lifts embargo on arms supplies to Libya - May 08, 2012
- US to release $1.5 bn in Libyan funds - Aug 26, 2011
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Tags: assets, bn, five billion, foreign minister, franco frattini, french authorities, italian foreign, italy, libya, muammar gaddafi, national transitional council, partner in europe, ria novosti, rome, sanctions committee, un sanctions