EU Starts Lifting Libya Sanctions

EU member states today agreed to lift sanctions imposed on Libyan enterprises, RIA Novosti reports.

Catherine Ashton, the EU's foreign policy chief, said the aim of the move was to provide the necessary financial resources to support an interim government and to help rebuild Libya's economy.

She is quoted by European Voice as saying that the decision was a “clear sign of the EU's determination to do its utmost to support the people of Libya and the interim authorities during the transition”.

A preliminary accord to start unfreezing the assets of 28 entities, including energy companies, banks and port operators, was reached yesterday. The asset freezes were imposed on 28 February along with other sanctions imposed by the United Nations. Today's move concerns only the assets frozen by the European Union.