EU lifts sanctions against 28 Libyan firms | world | Hindustan Times
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EU lifts sanctions against 28 Libyan firms

The European Union today decided to lift an assets freeze against 28 Libyan firms, including ports and banks, to provide funds to the rebel leadership and kickstart the economy.

world Updated: Sep 01, 2011 19:48 IST

The European Union on Thursday decided to lift an assets freeze against 28 Libyan firms, including ports and banks, to provide funds to the rebel leadership and kickstart the economy.

"Today, the EU has lifted its asset freeze on 28 Libyan entities. Our goal is to provide resources to the interim government and the Libyan people and help to make the economy function again," said EU chief diplomat Catherine Ashton.

Ashton said Libyan ports as well as companies in the energy and banking sectors were among the firms that were removed from a blacklist of some 50 entities targeted by sanctions.

The decision coincided with an international conference of the "Friends of Libya" hosted by Paris to find ways to support the National Transitional Council (NTC).

"This is 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," Ashton said, one week after rebel forces took control of Tripoli.