Extension on Libya Pullout OKd
The Reagan Administration said today that U.S. firms under order to cease operations in Libya will in some cases be given extra time to wind up their operations to avoid a $1-billion windfall of financial benefits to the Libyan government.
Under an order issued by Reagan after Libya was blamed for supporting terrorist attacks in Europe, U.S. companies were to pull out of Libya by Feb. 1. Today, however, officials said “limited extensions are being permitted.” Otherwise, the firms might be forced to abandon substantial assets in Libya, the State Department said.
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