U.N. to allow release of $1.5 billion frozen Libya funds

Reuters News
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Posted: Aug 25, 2011 4:59 PM

UNITED NATIONS (Reuters) - The United States and South Africa struck a deal on Thursday to allow the release of $1.5 billion in frozen Libya funds for humanitarian aid and other civilian needs, U.N. diplomats said on Thursday.

Council diplomats said the agreement would enable the funds to be released without a U.N. Security Council vote on a U.S. draft resolution that Washington submitted to the council on Wednesday in response to South Africa blocking a U.S. request to disburse the money in the U.N. Libya sanctions committee.

(Reporting by Louis Charbonneau; Editing by Sandra Maler)