Britain unfreezing £600m of Libyan assets

15th September 2011, Comments 0 comments

Britain will release £600 million ($950 million, 690 million euros) worth of Libyan assets to help the new Libyan leadership, Prime Minister David Cameron's spokesman said Thursday.

"We'll be making available around £600 million worth of the Libyan assets," the spokesman told reporters in London as Cameron and French President Nicolas Sarkozy were given a rapturous welcome on a visit to Tripoli.

"These were assets that were frozen by the previous UN resolutions," the spokesman added.

Billions of dollars of cash, property and other assets belonging to Moamer Kadhafi's regime in the West were frozen in February under a UN Security Council resolution.

In Britain alone, around £12 billion assets were frozen this year after a Kadhafi launched a bloody crackdown against an ultimately successful rebellion.

Britain has been pushing for a new Security Council resolution on unfreezing Libyan assets.

Cameron's spokesman said: "We are in discussions at the UN and we will be pushing for a new resolution at the UN Security Council tomorrow."

Cameron and Sarkozy are the most senior Western leaders to visit Libya since Kadhafi was overthrown.

© 2011 AFP

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