BREAKING NEWS

US keeps freeze on Libya assets for now

By REUTERS

AUGUST 22, 2011 19:28

WASHINGTON - The United States is keeping in place for now a freeze on billions of dollars of Libyan government assets, although the Treasury Department is considering how to provide financial assistance to rebel groups, an Obama administration official said on Monday.

More than 30 nations have recognized the rebel group, known as the Transitional National Council, or TNC, including six Arab countries, as the legitimate governing authority for Libya. The recognition has increased the likelihood the group will obtain access to funding, the official said.

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