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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Greywolf who wrote (1182)7/8/1999 12:34:00 PM
From: Tomas   of 2742
 
Relations restored with Libya - Financial Times, July 8
By David Buchan, Diplomatic Editor

Britain is to end its 15-year diplomatic rift with Libya
which yesterday accepted "general responsibility" for the
1984 killing of policewoman Yvonne Fletcher outside its
London embassy. Libya promised to pay her family
compensation.

Announcing Libya's concession in the House of
Commons, Robin Cook, foreign secretary, said Britain
would speedily resume full diplomatic relations and send
an ambassador to Tripoli.

The breakthrough follows Libya's separate agreement to
deliver the two Libyan suspects in the 1988 Pan Am
airliner bombing over Lockerbie to the Netherlands for a
trial under Scottish law. As a result, selective United
Nations trade and air transport sanctions have been
suspended.

But Britain insisted on progress in the case of WPC
Fletcher before restoring the diplomatic relations it ended
after the 25-year-old officer was killed by shots fired from
the embassy in St James Square.

After discussions with UK officials outside Britain,
Abudl-Ati alObeidi, Libya's ambassador to Rome,
finalised a joint statement with Mr Cook in London.

Libya expresses deep regret for the policewoman's
death, undertakes to pay "appropriate" compensation to
her family through the social fund of the Libyan police
association and promises to co-operate with the UK
police investigation into her murder.

Scotland Yard yesterday hailed it as a "positive step"
and looked forward to "real co-operation" from Libya.

The joint statement came after brinkmanship from the
government, which dissuaded an all-party group of MPs
from accompanying a delegation from the British-Libyan
Business Group to Tripoli on Sunday.

Lord Ahmed of Rotherham, the businessman leading the
delegation of 16 companies, expressed delight at the
breakthrough, which would have "enormous political and
economic benefits".

Last year the UK exported £237m worth of goods to
Libya, and imports totalled £149m, according to the
Department of Trade and Industry. Private sector sources
say these figures understate trade between the two
countries.

The suspension of UN sanctions is expected to lift sales
of aircraft and oil equipment to Libya. US sanctions may
not be lifted until the opening, next spring, of the trial of
the Lockerbie bomb suspects.
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