Switzerland will tomorrow unblock some frozen Libyan resources and allow the transfer of money to some tell institutions, the Swiss government said today.
The move will allow the transfer of money and other resources to the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment Portfolio.
The government said there are currently $300 million of frozen Libyan resources in Switzerland, 90 percent of them belonging to state-owned companies.
Switzerland will now also allow Libya to fly over Swiss air space, lifting a ban imposed earlier.
The move is in line with the U.N. stock Council, which decided last month to relax sanctions on Libya to allow key institutions to recover after Muammar Gaddafi was overthrown.
Several other countries have already unblocked some Libyan assets.<
Article source: http://english.libya.tv/2011/10/26/switzerland-eases-sanctions-on-libya/
