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Thursday, August 25, 2011

South Africa Blocks £1 billion Libya Assets Release - 25th Aug 2011

The release of £1bn of Libyan frozen assets is being held up at the UN by South African opposition.

South Africa's ANC-led government, past beneficiaries of millions of dollars in support from ousted Libyan leader Colonel Gaddafi, is blocking efforts to unfreeze the money.

South African president Jacob Zuma says the Nato backed revolution has undermined the "African Union's efforts and initiatives to handle the situation in Libya".

But critics say his government is now in danger of being spectacularly on the wrong side of history. Britain has described its attitude as disappointing.

African Union efforts to 'handle the situation' have largely been ineffective.

African governments have tolerated Gaddafi's four decades of misrule in return for his patronage of pan-African causes. Read More