UN and US lift sanctions on Libyan central bank

The Central Bank of Libya, Tripoli

The UN Security Council Committee on Friday removed the Central Bank of Libya from the list of individuals and entities subject to an asset freeze. The US government has also announced it is releasing assets held in the US.

Billions of dollars of assets held by the central bank were frozen as the country fought to remove the late colonel Muammar Gaddafi from power. Now, the UN and US have ordered the release of the funds to help the country rebuild.

Sanctions imposed by the UN were also lifted

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