Upto $700mn in Libya assets could be released: UAE
ABU DHABI: As much as $700 million in Libyan assets is held in the United Arab Emirates and could be released as soon as the United Nations gives approval, the UAE foreign minister said on Wednesday.
"I am not sure of about the amount of assets, it is in the range of $500 million to $700 million. The only way to unfreeze those assets is through a Security Council resolution," UAE Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan told a news conference. "Definitely the UAE wants to see it as soon as possible and welcomes such a thought."
The minister said the Arab League would discuss whether to grant Libya's incoming government a seat at a meeting of foreign ministers in Cairo on Saturday. He will travel to the insurgent bastion Benghazi next week.
Copyright Reuters, 2011
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