Libya seeks to unfreeze 2 banks' assets

[December 17, 2011]  UNITED NATIONS (AP) -- Libya's National Transitional Council has asked the U.N. Security Council committee monitoring sanctions against the country to unfreeze the assets of two banks.

Council diplomats said the new Libyan government sent a letter to the committee requesting an end to sanctions on the Central Bank of Libya and its subsidiary, the Libyan Foreign Bank.

If none of the 15 council members object by Friday evening, the committee will order the assets to be unfrozen, the diplomats said. They were speaking on condition of anonymity because the procedure is private.

The Security Council froze assets of the two banks and three other financial institutions linked to former Libyan leader Moammar Gadhafi in March.

Diplomats say unfreezing the banks' assets will help Libya repatriate assets from overseas.

[Associated Press; By EDITH M. LEDERER]

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