BREAKING NEWS

S.Sudan offers billions of dollars to settle Sudan disputes

By REUTERS

NOVEMBER 18, 2011 20:52

JUBA - South Sudan is offering Khartoum "billions of dollars" if it agrees to settle all bilateral disputes and gives up claims to the contested oil-producing Abyei region, a top official said on Friday.

South Sudan became the world's newest country after voting for independence in a January vote, taking with it three-quarters of the former united country's roughly 500,000 barrels per day of oil production.

The split left a long list of unresolved issues; including Abyei, how to share oil revenues and other assets, and how to end border violence. Sudan is facing a severe economic crisis and has asked fellow Arab countries for aid to compensate for the loss of oil revenues.

African Union (AU) mediators hope both countries will meet in Ethiopia next week after talks collapsed in the summer over the question of how much the landlocked South should pay for the use of Sudan's export facilities.

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