US To Unfreeze About $1.5B Libyan Assets
SAN FRANCISCO, August 23, (THEWILL) – The United States is seeking to unfreeze Libyan assets seized from Muammar Gaddafi to enable Libyan rebels have access to much need cash, U.S State Department spokesperson Victoria Nuland said Tuesday in Washington.
The rebels are expected to receive between $1 and $1.5 billion from the about $30 billion seized because about $28 billion are non-cash assets.
The process is expected to be “completed in the coming days”, Nuland told reporters adding that the U.S was working with the United Nations Sanctions Committee for approval.
Meanwhile, more than 20 countries have formally recognized the rebel’s National Transitional Council (NTC) as the legitimate authority in Libya.
The countries include the United States, UK, France, Germany, Nigeria, Morocco, Bahrain, Turkey, Greece, Iraq, most EU countries and the Arab league.