UK to unfreeze £12bn in Libyan assets

2011-09-15 15:20

Tripoli - Britain's prime minister David Cameron on Thursday said his government would look to unfreeze a further £12bn in Libyan assets if a United Nations Security Council resolution on Libya was passed.

"We [Britain] have already unfrozen a billion pounds worth of assets and if we can pass the UN resolution that we will be putting forward with France tomorrow, there's a further £12bn of assets in the UK alone that we will be looking to unfreeze," Cameron told a news conference in the Libyan capital Tripoli.

Cameron was on a joint visit to Tripoli with French President Nicolas Sarkozy. Both leaders will visit Benghazi, the cradle of the revolution that overthrew Muammar Gaddafi, later on Thursday.

  • marco - 2011-09-15 16:02

    The British government are really confident in this NTC interim government and that the Rebel advances are irreversible,who by the way are seperate from the NTC as they report to the local military in Libya and not to the Ministry of Justice,some officials and politicians are in triumphant mood and laughing all the way to the bank. It couldn't come soon enough from no 10 Downing Street and their Foreign Office.Prime Minister David Cameron may have pulled off a risky policy of intervention,but the "Mission Accomplished" debacle which damaged President George Bush after the "victory" speech in Iraq turned into ashes. Granted without NATO the Rebels could never have achieved what they did in Libya.Money are suddenly now flowing into Libya from all corners,and oil has just begun streaming out bigtime.Britain and France are well placed to benefit from a prosperous Libya given its existing oil contracts and the goodwill the NTC feels towards London and Paris for their military and political support this year. Wonder what China makes of all this?They get 3.5% of sweet crude from Libya.

      john - 2011-09-15 17:10

      China will makes its entrance, make no mistake. They contributed sweet f-a to the Iraq invasion and walked off with more oil contracts than anybody else did. They'll benefit a lot if sporadic fighting continues. Western companies are squeamish about subjecting their workers to potential attack, the Chinese a lot less so. This is why they scooped so many contracts in Iraq. Western companies didn't even bid on oilfields in areas of heavy conflict, the Chinese got them essentially unopposed. Although there were one or two fields where even the Chinese weren't interested, the fighting is so heavy. Ultimately, it comes down to a lot of things - price, specialist technology, knowledge of the area, willingness to invest, aversion to risk, transfer of skills, all that good stuff that goes into tender scoring and awarding of contracts. Who supported the govt is irrelevant. The US didn't put the Angolan govt in power. Quite the contrary, they supported Unita, it was the Soviet bloc that supported Dos Santos and Co. Yet US firms dominate the Angolan oil industry. The US put the new Iraqi govt in power, yet China dominates in Iraq. It's also a bit more complex than "x% goes to country y". Many oil contracts are JVs. So you could get CNPC (China) working together with BP, or Total working together with a Russian company. The oil industry is a wee bit more complex than most South Africans have been led to believe.

      Barr. Fazal KUILA - 2011-09-15 18:33

      The greedy westerners already informed us that Libyan Rebels spent 86 million dollars everyday so from my calculations, fighting for six-months which is 180-days means the rebels only has spent $15,480,000,000 not talking about the NATO's spend which is two times more than what the rebels spent. Now the question is, these western evildoers should tell us which future they have left for the unborn Libyan generation... Following like is the backup comment:

      slg - 2011-09-16 05:36

      Still at it Barr? The war's over. You lost. Libya won. This is about a lot more than money. It's about freedom from tyranny and oppression, the tyranny and oppression that you and your beloved the brutal dictator Moamar Gadhafi perpetrated on the Libyan, which you now pretend "Western evildoers" are perpetrating. The game is over. You lost. It's over.

  • Barr. Fazal KUILA - 2011-09-15 18:09

    Don't take us for fools, you've mentioned the figure right but how much they (Libyans unborn generations) will balance you after counterbalancing from the ammunitions you supply to the killers, sorry rebels? We're carefully watching you evildoers, whether you like it or not United States of Africa most come to pass...

      Anton - 2011-09-15 19:31

      Barr.Fazal KUILA, Give it up Barr, your hero ,maybe not gone, but he is finished, and so are his lovely kids. They will NEVER AGAIN threaten anyone in Libya. The libyan people had 42 years of tyranny , and 7 months of living hell, If you are not prepared to support the Libyan population, don't you think, its time now, at the very least, to leave them alone!!!!!!!!!!

      Anton - 2011-09-16 05:20

      Barr.Fazal KUILA, And, The United States of Africa........ It would be absolutely great !! but its not going to happen now. Maybe in 50 or 60 years!!! As a matter of fact, partly through your hero gaddafi, today , Africa is less united than ever!!!!

      slg - 2011-09-16 05:38

      The "we" you mention is you and a few other Gadhafi lovers. Your time is over. Libya is free.

  • Law01 - 2011-09-15 21:58

    Sarkozy is jewish, this is all part of the Zionist Plot to Rule The World.What is this invasion in the name of "liberating Libyans"??? Why not Zimbabwe, it is the OIL People, the Zionists want to control the entire Middle East and Oil Rich Countries. The Zionists were also behind the Crisis in Europe (eg:Greece). Could we be somewhere on their Hitlist?? Visit: and read the Book "confessions of an economic Hitman) by John Perkins STOP THESE MURDERERS!! Lawyer for Human Rights, Peace, Justice...

      slg - 2011-09-16 05:39

      Not much between the ears, Law01. Racism is for dumb people.

      Law01 - 2011-09-16 10:43

      slg, you right Zionism=Racism, slg do you think Israel is an apartheid state, just like Old SA? Oh your comments towards Muslims smacks off racism!!

      slg - 2011-09-16 15:28

      What has that got to do with the brutal dictator Gadhafi being chased out of his country and Libyans being free? Nothing.

  • tee-hee-hee - 2011-09-29 23:01

    Don't ever bank UK or US

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