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U.S. to release up to 1.5 billion dollar Libyan frozen assets: State Department

(Xinhua)

08:29, August 24, 2011

WASHINGTON, Aug. 23 (Xinhua) -- The U.S. State Department said on Tuesday that Washington is working to release one billion to 1. 5 billion U.S. dollars of Libyan frozen assets to the country's opposition.

In a regular briefing, State Department spokesperson Victoria Nuland said the U.S. hoped the process could be completed in coming days and the assets would go to the opposition National Transitional Council (NTC) "to meet humanitarian need and to establish a secure stable government."

Libyan assets frozen by the U.S. is worth around 30 billion U.S. dollars.

Libyan rebels Tuesday captured Muammar Gaddafi's Bab al-Azizya compound in Tripoli after heavy fighting, Al-Jazeera television reported. The whereabouts of embattled Gaddafi, who has ruled the oil-rich North African nation for over four decades, remains unknown. But Kirsan Ilyumzhinov, head of the Russian chess federation, said Tuesday that Gaddafi told him by telephone that he was still in Tripoli and did not intend to leave the country.

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