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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
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"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