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Libya completes transfer of Lockerbie settlement funds: US
Washington, Aug 23: Libya has completed the transfer into a Swiss bank of 2.7 billion dollars in Lockerbie compensation money, paving the way for the lifting of UN sanctions against the country, the US State Department said.
Washington, Aug 23: Libya has completed the transfer into a Swiss bank of 2.7 billion dollars in Lockerbie compensation money, paving the way for the lifting of UN sanctions against the country, the US State Department said.
"We have been informed by the lawyers for the Pan Am 103
families that the transfer is complete," Deputy State
Department spokesman Philip Reeker said yesterday.
Libya began transferring the compensation -- to be paid to the families of those killed with the Pan Am Boeing 747 exploded over Lockerbie, Scotland on December 21, 1988 -- from its state bank into the Basel, Switzerland-based bank for international settlements on Wednesday.
But because the amount was so large several days were needed to complete the transaction, US officials said.
The completion of the transfer is the trigger for the UN Security Council to act on a British-proposed resolution to lift economic, travel and diplomatic sanctions on Libya under a deal reached last week.
Last Friday, Libya sent a letter to the Security Council accepting responsibility for the Lockerbie bombing and pledging to pay up to 10 million dollars to the families of each of the 270 people killed.
Britain then proposed the resolution to lift the sanctions and the United States said it would not oppose the measure. Bureau Report
Libya began transferring the compensation -- to be paid to the families of those killed with the Pan Am Boeing 747 exploded over Lockerbie, Scotland on December 21, 1988 -- from its state bank into the Basel, Switzerland-based bank for international settlements on Wednesday.
But because the amount was so large several days were needed to complete the transaction, US officials said.
The completion of the transfer is the trigger for the UN Security Council to act on a British-proposed resolution to lift economic, travel and diplomatic sanctions on Libya under a deal reached last week.
Last Friday, Libya sent a letter to the Security Council accepting responsibility for the Lockerbie bombing and pledging to pay up to 10 million dollars to the families of each of the 270 people killed.
Britain then proposed the resolution to lift the sanctions and the United States said it would not oppose the measure. Bureau Report