BREAKING NEWS

France wants 1.5 bln euros Libyan assets unblocked

By REUTERS

AUGUST 31, 2011 14:14

PARIS - France has asked the United Nations Sanctions Committee to unfreeze 1.5 billion euros ($2.16 billion) of Libyan assets in France, a French government source said on Wednesday.

The source told reporters that Libya - where the ruling interim council is eager to gain access to billions of dollars in frozen assets around the world as it rebuilds the economy after the overthrow of Muammar Gaddafi - has 7.6 billion euros of assets parked in French banks.

"We have already initiated the process to free up to 1.5 billion euros. We hope it will be done by the end of the week," the source said.

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