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Article: The Financial Background.
- Article from:
- APS Review Downstream Trends
- Article date:
- July 20, 2009
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Before the US lifted unilateral sanctions against Libya and normalised ties with Tripoli in 2004, billions of dollars worth of liquid and semi-liquid assets had been the subject of constant re-deployment since the 1980s, when Washington moved to freeze them, and the early 1990s as the UN imposed a limited embargo on the north African country. But since late 2003, when Qadhafi's regime declared it was getting rid of its WMD, Libya has been re-integrating with the global economic environment - although its political attitudes occasionally keep raising eyebrows in the US and Europe.
Shortly after the UN suspended sanctions on Libya in April 1999, Oilinvest was ...