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Press Statement
Sean McCormack, Spokesman
Washington, DC
October 31, 2008


Implementation of the Libyan Claims Settlement Agreement

On October 31, 2008, Secretary of State Condoleezza Rice certified to Congress that the United States has received $1.5 billion pursuant to the U.S.-Libya Claims Settlement Agreement. These funds are sufficient to provide the required compensation to victims of terrorism under the Libyan Claims Resolution Act. Concurrently, the President issued an Executive Order to implement the Claims Settlement Agreement. The Administration will now move expeditiously to arrange for distribution of these funds in lieu of the pending U.S. court cases against Libya.

Libya’s decision to resolve outstanding claims through the U.S.-Libya Claims Settlement Agreement is a laudable milestone in our bilateral relationship; providing a measure of justice to families of U.S. victims of terrorism and clearing the way for continued and expanding U.S.-Libyan partnership.

Indeed, Libya’s return to the international community following its historic 2003 decision to renounce terrorism and dismantle its WMD program has been remarkable. Today, Libya is an important partner in the common effort against terrorism and serves as a model for other countries that may wish to renounce isolation and rejoin the community of nations.

We look forward to the future of our relationship with Libya as we expand cooperation across all areas, including education and culture, science and technology, commerce, human rights and good governance, and defense.

2008/927


Released on October 31, 2008

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