EU member states today agreed to lift sanctions against Libyan ports, banks and oil companies.

Catherine Ashton, the EU’s foreign policy chief, said the aim of the move was to provide the necessary financial resources to support an interim government and to help rebuild Libya’s economy.

She said the decision was a “clear sign of the EU’s determination to do its utmost to support the people of Libya and the interim authorities during the transition”.

Ashton said the EU would remain “a strong and committed partner” to Libya’s National Transitional Council (NTC), which has been leading the fight against Muammar Qaddafi’s regime.

A preliminary accord to start unfreezing the assets of 28 entities, including energy companies, banks and port operators, was reached yesterday. The asset freezes were imposed on 28 February along with other sanctions imposed by the United Nations. Today’s move concerns only the assets frozen by the EU.

The decision was announced hours before the start of a special conference on the future of Libya, which will take place in Paris. The meeting, hosted by France and the UK, will involve some 60 countries and organisations. The EU will be represented by Ashton, José Manuel Barroso, president of the European Commission, and Herman Van Rompuy, president of the European Council.