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Spain releases 350 million euros for Libya

Spain said Wednesday it had secured UN approval to release 350 million euros ($480 million) in frozen Libyan accounts to the country’s new rulers.

“This morning we received an affirmative answer to our request to unfreeze Libyan funds in Spain from the United Nations sanctions committee,” Foreign Minister Trinidad Jimenez told a parliamentary committee.

The money would be used as humanitarian aid for essential services, she said, adding that the amount accounted for almost all frozen Libyan funds in Spain.