From the Beeb:
US President George Bush has lifted his country's trade embargo on Libya as a reward for Tripoli's decision to give up weapons of mass destruction.
Most of the sanctions were suspended in April, when Libya announced its decision.
The president has now formally revoked those which remained, dealing with general trade, aviation and importing Libyan oil.
Several terrorism-related sanctions remain in place.
The move is expected to trigger release of more than $1bn to the families of the victims of the Pan Am Flight 103 bombing over Lockerbie, in the United Kingdom.
Libya had threatened to cancel the compensation payment if the sanctions had not been lifted by Wednesday.
"This step is taken in response to actions that Libya has taken over the past nine months to address concerns by the international community about its weapons of mass destruction programs," US State Department spokesman Adam Ereli said, the AFP news agency reported.
It effectively scraps a trade embargo imposed in 1986 by then US President Ronald Reagan under the guise of a "national emergency" after a series of what Washington regarded as Libyan-sponsored terrorist actions.
A freeze on Libyan assets in the United States has also been lifted.
However, Mr Ereli said Libya remained on the US' list of state sponsors of terrorism, and was subject to relevant sanctions.
"I would also note that our diplomatic representation in Libya is that of a liaison office; we certainly don't have full diplomatic representation there," he said.
Story from BBC NEWS:
Published: 2004/09/20 18:46:52 GMT
© BBC MMIV
About damned time, if you ask me. Sanctions are for the weak. We've got to get into these countries with a strong American market of durable goods and professional services.
Now, let's work on Syria, Algeria and the rest.
I want to see Capitalism explode in these shit-holes!