Babylon & Beyond

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LIBYA: U.N. to consider resolution to release Libyan assets

August 24, 2011 |  7:47 am

The U.N. Security Council is scheduled to discuss a resolution that would release frozen Libyan assets, and could vote on the plan before the end of the week, British officials told the Associated Press Wednesday.

Diplomats plan to discuss the draft resolution Wednesday, which would authorize the release of billions of dollars in seized Libyan funds.

Britain's Foreign Secretary William Hague told the Associated Press that nations hoped to “pave the way for the unfreezing of assets … which ultimately belong to the Libyan people.”

Photos: Battle for Kadafi's compound

A British official, who asked not to be identified, told the AP that a resolution drafted by the U.S., France and Britain had already been circulated. The official said a vote is expected Thursday or Friday.


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Photo: Libyan rebel fighters take to the streets in Tripoli on Wednesday. Credit: EPA