Libyan Assets To Be Released To Rebels

The United Nations has called for the handing over of Libya's frozen assets to the newly installed transitional authorities in the North African nation.

As the last of Muammar Gadaffi's regime crumbles under the long fought rebellion, the UN have urged its Security Council to formally hand over economic control to the political group representing anti-Gadaffi forces, the National Transitional Council.

The resolution comes after events in Tripoli forced members of the international group dealing with the civil war's aftermath to hold an 'extraordinary' meeting in Istanbul on Thursday to set up a "road map for construction of new Libya".

"We have decided to start a process to unfreeze the frozen Libyan assets in an expedited manner," members of the Libya Contact Group said in their final communiqué after the meeting.

"In that regard, participants urged the UN Security Council to pass the resolution currently under discussion," they said.

The Contact Group urged the still missing Colonel Muammar Gadaffi and his 'inner circle' to turn themselves in immediately to face justice to prevent further bloodshed and destruction of property.

Gadaffi this week released an audio address fro broadcast saying "it is the time for martyrdom or victory," and refusing to hand himself in for trial.

The group also agreed that the UN should lead all international efforts aimed at helping Libya in the post-conflict period.

The National Transitional Council is currently being led by Mahmoud Jibril, who served under Gadaffi until the outbreak of the rebellion as head of the countries National Economic Development Board, where he pursued a number of pro-western policies such as privatisation.

Although Jibril's transitional government has been formally recognised and supported by 57 countries including Britain, America and France, China and Russia have yet to agree to the status, despite having met with its representatives several times.

Meanwhile, the UN Secretary-General's Special Adviser on post-conflict planning for Libya, Ian Martin, said on Thursday that Libya's new leadership had shown commitment to moving quickly towards democratic legitimacy through the drafting of a constitution and early elections.

(DW/BMcC)