CAPE TOWN, S. Africa - The decision was made on Thursday, The United States and South Africa reach an agreement that will release USD 1.5 billion of the frozen Libyan assets, which are expected to be used for emergency assistance to the crisis-hit country.
Earlier this week, a US proposal to unfreeze a portion of the blocked assets was dismissed by South Africa, which serves on the UNSC's sanctions committee as a non-permanent member, on the ground that it would imply recognition of Libya's revolutionary Transitional National Council. Proposals in the committee require the approval of the UNSC's all 15 members.
- Washington says the money will be delivered to the Libyan revolutionaries to meet urgent humanitarian needs.
- Libya has been the scene of intense fighting between regime troops and revolutionary fighters since a revolution seeking to topple the country's dictator Muammar Gaddafi broke out in mid-February.
This week, Tripoli came under the control of the opposition fighters, who also captured Gaddafi's Bab al-Aziziyah compound in the capital.
On Thursday, around 1,000 opposition forces surrounded 10 buildings near the compound, facing heavy resistance from the pro-Gaddafi forces. The now-fugitive dictator's whereabouts, however, is yet to be known.
Source: Agency
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