New Libya leaders seek to unfreeze funds

New Libya leaders seek to unfreeze funds

The head of Libya's revolution cabinet has launched a European diplomatic tour, hoping to project an image of a government-in-waiting and secure the release of billions of dollars in UN-frozen Libyan assets as Muammar Gaddafi's 42-year autocratic regime seems near its end.

In wide-ranging remarks on Wednesday about his country's future, Mahmoud Jibril laid out plans for the post-Gaddafi era, including forming a commission to draft a new constitution that would be subject to a national referendum.
The meetings come as the UN Security Council prepares to vote this week on a resolution that would release $1.5 billion in Libyan assets in US banks that the world body froze as a way to crimp Gaddafi's ability to wage war on his people. That would be a start: Some analysts estimated that as much as $110 billion is sitting frozen in banks worldwide.
The United States and the European Union have called for the quick release of assets to help the opposition National Transitional Council rebuild Libya's economy, restore essential services, reform the police and the army, and pay government salaries.
Jibril kicked off his European trip by meeting with President Nicolas Sarkozy of France, which along with Britain has been the major international power to take a leading role in a six-month air onslaught by NATO in Libya.
September 1 conference
At a joint news conference, Jibril thanked Sarkozy for France's support in "protecting civilians" and appealed for more help "to obtain the unfreezing of Libyan funds so we can transform (our) promises into reality."
Earlier Wednesday in London, British Foreign Secretary William Hague said, "We are engaged at the United Nations and elsewhere to pave the way for the unfreezing of assets, the assets that have been frozen for five months but which ultimately belong to the Libyan people."
As for the NATO-led air campaign, which has provided nearly pivotal support as revolution forces advanced into Tripoli over the weekend, Sarkozy said it would continue until "Gaddafi and his henchmen no longer represent a threat for the Libyan people."
He implied that the alliance would take its cues from the revolution.
"From the minute our NTC friends tell us ... that Gaddafi's clan is no longer a threat to the Libyan people, at that very minute, coalition military operations will stop," Sarkozy said, adding that UN Secretary General Ban Ki-Moon would also be consulted.
PHOTO CAPTION
Ibrahim Dabbashi, Libya's deputy United Nations ambassador, discusses the situation in Libya during a news conference, Tuesday, Aug. 23, 2011 in New York.
Al-Jazeera

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