Italy unfreezes 350 million euros of Libyan assets

Reuters News
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Posted: Aug 25, 2011 7:49 AM
Italy unfreezes 350 million euros of Libyan assets

ROME (Reuters) - Italy has begun unfreezing 350 million euros of Libyan funds in Italian banks as a first step in a broader effort to unblock all of the country's assets in this country, Prime Minister Silvio Berlusconi said on Thursday.

Italian oil and gas group Eni, the biggest foreign oil operator in Libya, is expected to sign a deal to supply a "large" amount of gas and petrol without payment to serve the immediate needs of Libyans, he said.

The deal will be probably be signed on Monday in Benghazi, Berlusconi added.

(Editing by Barry Moody)