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Libya OKs $2.7B Bombing Compensation Fund

Libya has agreed to set up a $2.7 billion fund for families of 270 people killed in the 1988 Pan Am bombing, the families’ lawyers said, a move that could end U.N. sanctions and resolve an issue that has made the country an international pariah. The agreement, which was reached Wednesday, was to be followed by a letter to the United Nations admitting responsibility for the attack, said the e-mail signed by attorneys James P. Kreindler and Steven R. Pounian and read to The Associated Press. The attorneys appeared confident that sanctions would be lifted quickly, but U.S. and U.N. diplomats were skeptical. Sanctions imposed by the Security Council in 1992 were suspended in 1999 after Libya handed over two agents indicted for the Pan Am bombing over Lockerbie, Scotland, for trial. Full Story

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