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China is blocking release of Libya's frozen assets

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BENGHAZI, Libya, Sept 3 (Reuters) - China is obstructing the release of Libya's frozen assets, the head of Libya's National Transitional Council (NTC) Mustafa Abdel Jalil said in a news conference on Saturday.

"China is obstructing the release of Libya's frozen assets," said Abdel Jalil, adding that Libyan rebel leader Mahmoud Jibril had earlier met with a representative of the Chinese government to further understand this "unexpected position".

It was not immediately clear what the precise complaint to Beijing was. China has not joined Western powers in formally recognising the NTC as the legitimate authority in Libya, but it has acknowledged its "important role" in the country following the overthrow last week of Muammar Gaddafi.

An NTC spokesman accused China of bargaining hard to protect interests in Libya, developed during Gaddafi's rule.

Spokesman Shamsiddin Abdulmolah said that while China had agreed with other international powers on Thursday to the unfreezing of $15 billion of Libyan assets abroad, it was opposed to handing control of more to the interim ruling council.

"China is objecting to the unfreezing of all of the money but has approved of the $15 billion that is needed immediately," he said. "I'm sure they are going to use their veto card to make sure that their interests here in Libya are secure."

Under Gaddafi, Libya had built up an estimated $170 billion of assets abroad, though Western governments, anxious to see how the NTC operates as a government, have also not suggested giving immediate control of all of those investments to the council.

China's future role in Libya is seen as uncertain given its criticism of the NATO bombing campaign against forces loyal to Gaddafi. However, NTC officials have said that existing contracts, signed with the Gaddafi administration, will be honoured.

And Abdel Jalil said that China was still considered a "supporter" of the Libyan revolt since it did not use its veto in the UN Security Council to oppose the creation of a no-fly zone over Libya in March.

"China has been a supporter of the revolution as I have mentioned more than once as it abstained from using its mandate against two UN resolutions supporting Libya," he said.

UPDATE 1-China is blocking release of Libya's frozen assets- NTC Head | Agricultural Commodities | Reuters
 
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China need make sure her interest in Libya be protected.
 
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How is blocking money that will be used to buy food, fuel for the population protecting Chinas interests? China has no interests in Libya.

China is just annoyed a dictator was thrown out for deomocracy.

They would not need to buy food and fuel that Libya has in abundance, if they didn't invite NATO to bomb the hell out of their own country.
 
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How is blocking money that will be used to buy food, fuel for the population protecting Chinas interests? China has no interests in Libya.

China is just annoyed a dictator was thrown out for deomocracy.
None. China has historically been absent in the many UN Peace Keeping Operations (UNPKO) out of ideological differences and simple technical competency. The latter meaning that Chinese troops have next to nothing experience in being in a highly cooperative working environment with other militaries, especially when such operations are often dominated by the US and/or the Europeans. Not saying China has no such experience, only that very very little in contrast with being a member of the UN Security Council. This action should be viewed in that context and that such a verbal engagement offers China a high safety margin in the event that something does go wrong.
 
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How is blocking money that will be used to buy food, fuel for the population protecting Chinas interests? China has no interests in Libya.

China is just annoyed a dictator was thrown out for deomocracy.

You mean into the pockets of those new dictator? Since the West has participated in the spoils conference, I think they have a duty to pay it

---------- Post added at 10:50 AM ---------- Previous post was at 10:48 AM ----------

I also know that democracy is very good, for example, a United Nations agreement circle into a no-fly bombing, this is a magic, but it is really the essence of Western democracy.
 
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How is blocking money that will be used to buy food, fuel for the population protecting Chinas interests? China has no interests in Libya.

China is just annoyed a dictator was thrown out for deomocracy.
Chinese may like charming leader even if he was called dictator.
 
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If all the libian assets is release now , all the money will go to private bank account of the newly formed government that s for sure.
 
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Well China is protecting its oil contracts in Libya, signed during Gaddafi's regime. It rightly fears losing the oil to UK and France.
 
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no, the rebels are the west's proxy. the people are blind and they are stuck in the fight of both parties.
No, the west did not start the revolution, the rebels did independently. What will the west gain?
If you go to Libya I am sure many of them agree with the rebels.
 
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