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Libya's opposition is to get access to a special $3 billion (£1.8 billion) trust fund established by its Western backers to finance the breakaway regions fighting Col Muammar Gaddafi.
The Libya Contact Group will seek to unfreeze Libyan state assets to replenish the rebels' coffers through the initiative at a meeting in Rome.
That would include allowing the rebels to sell oil from territory under their control, but there are legal questions over who exactly owns the oil, given that Gaddafi is st
That would include allowing the rebels to sell oil from territory under their control, but there are legal questions over who exactly owns the oil, given that Gaddafi is still in power.
There are also legal issues over whether assets owned by the regime and seized abroad could be given to the Libyan leader's opponents.
The meeting, which brings together 22 Western and Middle Eastern countries along with the UN, African Union and Arab League, will be attended by Hillary Clinton, the US Secretary of State, and Foreign Secretary William Hague. The money could then be paid back when the issue of oil sales is resolved.
His French counterpart, Alain Juppe, said: "It's not easy. There are Libyan assets that are frozen and for legal reasons unfreezing them is difficult."
The French foreign minister said a key objective of the meeting was to build contacts with officials who have already defected from the Gaddafi regime and others who want to leave it.
"There are a lot of officials from Tripoli who want to talk. We are going to try to coordinate," he said.
Originally posted by notsofunnyguy
So now we don't even take over the country and "liberate" it's resources...
We just outright steal them.
Originally posted by Illusionsaregrander
Ive been saying all along that what was going on in Libya is about "western" economic interests.
But to those who doubt it, I do not expect this little revelation to do much to change their mind.