European Union lifts asset freeze on 28 Libyan entities

[News_Editor]

European Union lifts asset freeze on 28 Libyan entities

2011-09-01 22:21:12 GMT+7 (ICT)

BRUSSELS (BNO NEWS) -- The European Union (EU) on Thursday announced that the European Council has lifted the freeze on several entities in Libya, citing recent developments in the North African country.

The Council lifted the freeze on the financial assets and economic resources of 28 Libyan entities, which were subject to the European Union's autonomous measures. Rebel forces have been able to take control of most of the country's territories, and captured its capital city of Tripoli.

The European Council had previously introduced a travel ban and an assets freeze while granting the necessary humanitarian exemptions. On August 10, the EU had extended its sanctions against Libya, freezing funds and financial resources of six port authorities, 49 entities and 39 people.

According to reports, the sanctions were lifted on the six port authorities, as well as on a number of financial institutions, gas and oil companies, and other entities.

Libya has been engulfed in a civil war since an uprising against Muammar Gaddafi's regime began in mid-February, while Libyan forces have been accused of violently cracking down on anti-government protesters. It led to UN Security Council Resolution 1973 which authorized member states to impose a no-fly zone over the North African country and to take 'all necessary measures' to protect civilians.

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