US to unfreeze Libyan assets

The United States said Tuesday it is now seeking to release up to $1.5bn in frozen Libyan assets in order to help the opposition forces establish a secure government and meet humanitarian needs. "We are also working urgently today ... this week to be able to release between a billion and 1.5 billion dollars in US-held frozen Libyan assets," State Department spokeswoman Victoria Nuland said. "We are working in the UN sanctions committee to be able to do this," Nuland told reporters. After Muammar Gaddafi cracked down on anti-government protests in February, the UN Security Council adopted a resolution freezing the regime''s assets abroad, including an estimated $30bn dollars in the United States. "We want to get this money back to the (opposition National Transition Council) for its use... to meet humanitarian needs and to help establish a secure stable government," Nuland said. "We hope this process will be complete in the coming days. There is quite a bit of diplomacy," she added.