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Switzerland lifts Libya oil firm sanctions

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11:22 CEST+02:00

Switzerland said Friday that it has lifted sanctions against two Libyan oil firms -- National Oil Corporation and its affiliated Zueitina Oil Corporation, as well as Afriqiyah Airways.

The authorities announced the changes in a decree which entered into force on Friday.

The move to ease sanctions came after the UN Security Council last week unanimously passed a resolution to ease economic and military sanctions against Libya and set up a UN mission to help the interim government.

The Security Council lifted UN asset freezes and other measures against Libyan National Oil Corporation and Zueitina Oil Company, and eased sanctions against the central bank, Libyan Arab Foreign Bank, Libyan Investment Authority and Libyan African Investment Portfolio.

Bern had said in early September that it wanted to unlock $420 million in frozen Libyan assets to assist the country's new interim government.

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