US firms see new opportunities in Libya pending settlement

US companies with languishing interests in Libya are growing increasingly optimistic that international sanctions against that country may be removed as early as this spring, with US restrictions gone by the end of the year.US government and industry sources said earlier this month that Libya has reached a tentative agreement with the US and the UK to accept civil responsibility for the 1988 bombing of Pan Am flight 103 over Lockerbie, Scotland, and to pay the families of the 270 victims $5-10 million, depending on how fast the US and the United Nations lift commercial sanctions.Those sanctions, along with a related US law designed to discourage foreign companies from investing in the Nor...

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