US lifts most sanctions against Libya

December 17th, 2011 - 8:35 pm ICT by IANS  

Washington, Dec 17 (IANS/RIA Novosti) The US has lifted most of its sanctions against Libya, imposed earlier in a bid to pressure the Muammar Gaddafi regime give up power.

“After careful consultation with the new Libyan government, the US rolled back most sanctions on the government of Libya. Due to the bravery and perseverance of the Libyan people, the Gaddafi regime was defeated and Libya is now undertaking a transition to democracy,” the White House said in a statement Friday.

“Today’s (Friday’s) action unfreezes all government and Central Bank funds within US jurisdiction, with limited exceptions,” it said.

The assets of the Gaddafi family would, however, remain frozen.

Gaddafi, who had ruled Libya for almost 42 years, was captured and executed by rebels near his home town of Sirte in October.

–IANS/RIA Novosti

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