BREAKING NEWS

France to unfreeze 1.5 billion euros of Libyan assets

By REUTERS

SEPTEMBER 1, 2011 09:31

PARIS - France has got approval to release 1.5 billion euros ($2.16 billion) of Libyan assets to help the country's interim ruling council rebuild the country, French Foreign Minister Alain Juppe said on Thursday.

Juppe, interviewed on RTL radio shortly before the start of an international conference on Libya in Paris, said the situation in Libya had largely stabilized and it was time now to help the interim rulers after the overthrow of Muammar Gaddafi.

France revealed on Wednesday that it had asked the United Nations Sanctions Committee to unfreeze 1.5 billion euros ($2.16 billion) of a total 7.6 billion euros in assets parked in French banks.

"We have to help the National Transitional Council because the country is devastated, the humanitarian situation is difficult and there's a lack of water, electricity and fuel," Juppe said.

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