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Weapons of Mass Destruction (WMD)

UNSC discusses unfreezing Libyan assets

RIA Novosti

17:16 25/08/2011 PARIS, August 25 (RIA Novosti) - France and its partners at the UN Security Council are working to draft a resolution to unfreeze Libyan assets blocked by UN sanctions, French Foreign Ministry spokesman Bernard Valero said on Thursday.

Libya's Transitional National Council (TNC) needs the funds, a total of $100 billion located in different parts of the world, for the country's reconstruction, he said, indicating that the council must be handed control of the nation's resources.

"In this context consultations are ongoing along two lines: at the UN Sanctions Committee... and at the UN Security Council," Valero said.

A French diplomatic source said on Wednesday the resolution was still in the preliminary stages and will be worked out in the next few days.

Russian Foreign Ministry spokesman Alexander Lukashevich said on Thursday said the "unfreezing" mechanism was yet to be discussed and agreed by all Security Council members but Moscow was aware of the initiative.

If unfrozen, the assets should benefit the entire nation "not only those claiming them now due to their leading role in the situation," he said referring to the TNC.

The League of Arab States has recognized the TNC and is ready to grant it membership in the organization.

A number of other African states, including Sudan, Egypt, Chad and Ethiopia, have also recognized the rebel Council of Libya as the North African state's sole legitimate government.

The uprising against Muammar Gaddafi's 42-year rule began in February. An international military operation "to protect civilians" in Libya began on March 19 following a UN resolution.

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