Posted May 05, 2011 12:04 pm CDT
The Obama administration hopes to tap billions of dollars in frozen Libyan assets to help Libyans affected by the country’s civil war.
Secretary of State Hillary Clinton announced today that the United States hopes to change U.S. law to allow use of the funds, according to the Washington Post, Reuters and the Associated Press. Clinton spoke in Rome during an international meeting on Libya.
More than $30 billion is frozen, but Clinton didn’t say how much would be used for the Libyan people. It was also unclear whether the money would go to Libyan rebels or humanitarian groups, the stories say.
Slate: “What Happens to Frozen Assets?”