In an interview with the BBC on Saturday, Libyan leader Colonel Muammar Gaddafi said his country has not been properly compensated for renouncing its nuclear weapons program in 2003. "Libya has not been properly compensated, so other countries, like Iran and North Korea will not follow his (Libya's) lead," Gaddafi told the BBC.
Gaddafi: It's time for Libya to open to the world
"This should be a model to be followed, but Libya is disappointed because the promises given by America and Britain were not fulfilled...
"And therefore those countries said we are not going to follow Libya's example because Libya abolished its program without any compensation... This destroyed that model... no one is going to follow that model as a result," he said.
When asked what more Britain and the United States should do and what they are failing to do, Gaddafi answered, "We haven't seen Britain or the United States and the European Union setting up power stations in Libya to transform our programs from weapons purposes to peaceful uses.
"I believe that Libyans as a whole think that Britain and the United States have won, and we have lost out."
Despite his comments Gaddafi assured that terrorism is out.
"Libya will never go back. I believe that the era of hostility and confrontation is behind us."
Asked whether it was still possible for Libya to work with the Western world for mutual benefit, to work constructively with Britain and the US, Gaddafi said, "Yes, that is quite possible, we are working to achieve that."
Gaddafi went on to tell the BBC he would like to see a time Libya did not need him as leader - and explained how self-rule through local communes and committees reporting decisions up to the center was working without the need for a ruler.