EUROPEAN GOVERNMENTS have lifted sanctions against 28 Libyan companies to help boost its economy after the six-month battle against the Gadafy regime. The sanctions were removed yesterday as world powers gathered in Paris to seek ways of supporting the country’s interim rulers.
In a separate manoeuvre expected today, the EU will impose a ban on oil imports from Syria and issue new sanctions against supporters of President Bashar al-Assad and Syrian financial institutions.
As the uprising against Col Gadafy took hold, EU member states imposed sanctions against Libyan companies independently of the UN penalties backed by the global community.
The removal of some European sanctions unfreezes the assets of more than 20 oil, gas and port companies, five financial institutions and the Libyan state airline.
EU foreign ministers gather today in Sopot, Poland, to take stock of developments in Libya, Syria and in the stalled Middle East peace process. Following the Paris meeting, they are expected to bring forward the development of an EU aid plan for Libya.
European diplomatic sources said the package would include measures to provide increased humanitarian aid to the country. Measures to foster democracy and “security sector reform” would also be included, the sources said.