Saturday, Sep 03, 2011
Gulf News
Dubai The European Union lifted sanctions on Libyan ports, oil firms and banks yesterday as Libya’s transitional leaders reaffirmed their commitment to democracy and good governance, a day after international powers agreed to hand them $15 billion (Dh55 billion).
The EU’s official journal listed 28 Libyan entities freed from restrictions, including the ports of Tripoli, Al Khoms, Brega, Ras Lanuf, Zawiyah and Zuara. Also listed were Libyan Arab Airlines and energy firms including the Ras Lanuf Oil and Gas Processing Co. and the Sirte and Waha oil companies.
Banks listed were the National Commercial Bank, Gumhouria Bank, Sahara Bank and First Gulf Libyan Bank. Members of the National Transitional Council have given various timelines for holding elections, but the council’s representative in Britain, Juma Al Gamaty, told BBC radio that “by the end of about 20 months the Libyan people will have elected the leaders they want to lead their country.”
A new constitution would go to a referendum within eight months, and a year later there would be presidential and parliamentary elections, he said.
Gulf News Report
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