Money transfers to certain Libyan state companies will be possible from Thursday, the Swiss government has decided.
This content was published on
1 minute
swissinfo.ch and agencies
The relaxation of sanctions in Switzerland is in accordance with the United Nations resolution of September 16 on the issue.
Switzerland had imposed the sanctions, including freezing assets, earlier this year.
Frozen assets belonging to the companies in question will remain blocked, a statement said on Wednesday. There is currently around SFr265 million ($303 million) frozen, of which 90 per cent belongs to Libyan state companies.
The firms in question are the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment Portfolio.
The UN Security Council had decided to relax sanctions in September following the fall of Moammar Gaddafi’s regime in Libya. It also struck two oil companies off its sanction list.
Switzerland lifted sanctions against these two firms on September 21, releasing SFr385 million in blocked money.
In addition, the Swiss have now also lifted flight restrictions for Libyan aircraft in Swiss airspace, which had been in force since March 31.
Most Read Swiss Abroad
More
How centuries of Swiss emigrants left their mark on the US
Bodycams: essential for good law enforcement, or a privacy risk?
Did you ever come across bodycams in your place of residence and if so, how do you think the use of bodycams alter the relationship between the public and (transport) police?
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Media hail the end of a tyrant
This content was published on
While they all welcomed the end of a dictator, many editorialists wondered how Libya would cope in the post-Gaddafi era. Meanwhile, experts said that it would have been better to see Gaddafi brought to justice. “The world can heave a sigh of relief”, “Gaddafi’s death – finally”, “Gaddafi, the punishment of Sirte” were just some…
This content was published on
Speaking at the Foreign Ministry’s annual human security conference in Bern on Tuesday, Maurer, State Secretary for Foreign Affairs, said it was fair to question the “unequal response” of the international community to events in different countries. “I am often very frustrated by how the international community reacts in a double standard way,” Maurer told…
This content was published on
However, there is still a lot of work to be done before business with Libya can go back to how it was under Moammar Gaddafi’s rule or even expand. Some first steps have included Switzerland re-opening its embassy in Tripoli over the weekend. This followed Switzerland setting up a liaison office in Benghazi in July.…
This content was published on
The revolt against the regime of Moammar Gaddafi, which started in Benghazi, rapidly turned into a full-scale conflict. On August 21 the rebels entered Tripoli. The days seem numbered for the Libyan leader Gaddafi.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.