BREAKING NEWS

US explores tapping some of blocked Gaddafi assets

By REUTERS

MAY 5, 2011 13:56

ROME - The White House hopes to change US law to allow it to use some of the more than $30 billion in frozen Gaddafi regime US assets to help the Libyan people, US Secretary of State Hillary Clinton said on Thursday.

"I'm pleased to announce that the Obama Administration, working with Congress, has decided to pursue legislation that would enable the US to tap some portion of those assets owned by Gaddafi and the Libyan government in the United States, so we can make those funds available to help the Libyan people," she said in prepared remarks released by the State Department.

Clinton spoke at a meeting of the so-called Libya Contact Group in Rome.

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