UK says UN agrees to release Libyan bank notes

By REUTERS
August 30, 2011 22:17

LONDON - The UN Sanctions Committee has agreed to Britain's request to release $1.55 billion of Libyan bank notes blocked in Britain as part of a freeze of assets held by the former government of Col. Muammar Gaddafi, Britain said on Tuesday.

The bank notes will now be delivered to Libya's central bank, the Foreign Office said.

"These banknotes, which were frozen in the UK under UN sanctions, will help address urgent humanitarian needs, instill confidence in the banking sector, pay salaries of key public sector workers and free up liquidity in the economy," Foreign Secretary William Hague said in a statement.


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