The UN approves release of Libyan funds currently in Norway

Norwegian Foreign Minister Jonas Gahr Støre commented, “I am pleased that the UN Sanctions Committee has agreed to Norway’s request to release the USD 370 million belonging to the Central Bank of Libya that are currently in Norwegian bank accounts. This is an important means of helping the country’s new authorities in a difficult transition period.”  

In order to help Libya to get quickly back on its feet again, it is crucial that the funds from the Gaddafi regime that have been frozen in other countries are made available to the new authorities as quickly as possible. This is important to get the economy going again, to meet the immediate needs of the population, and to stabilise the country.  

“Libya is a country with considerable resources. The Libyan people are anxious to ensure that they themselves draw up the plans for the new country. Norway agrees, and considers that this should be the starting point for further international efforts in the country. Norway will cooperate closely with the transitional authorities and the new UN presence in the country to help to ensure that international activities are coordinated in the best possible way,” said Mr Støre. 

Norway will maintain close contact with the Libyan National Transitional Council in order to establish the most appropriate channels for returning the released funds to Libya.