US Unfreezes Over $30 Billion In Libyan Assets

Law360, New York (December 19, 2011, 2:37 PM EST) -- The U.S. government loosened its sanctions on Libya on Friday, freeing up more than $30 billion in Libyan assets frozen since the February uprising against the government of late dictator Col. Moammar Gadhafi.

The action unfroze all U.S.-controlled asserts of Libya’s government, the Central Bank of Libya and Libyan Arab Foreign Bank.

“After careful consultation with the new Libyan government, the United States rolled back most U.S. sanctions on the government of Libya to keep our commitment to the Libyan people,” John Carney, White House press...
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