On 29 May 2002, Libya offered up to US$2.7 billion to settle claims by the families of the 270 killed in the Lockerbie bombing, representing US$10 million per family. The Libyan offer was that:
- 40% of the money would be released when United Nations sanctions, suspended in 1999, were cancelled;
- another 40% when US trade sanctions were lifted; and
- the final 20% when the US State Department removed Libya from its list of states sponsoring terrorism.
On 15 August 2003, Libya's UN ambassador, Ahmed Own, submitted a letter to the UN Security Council formally accepting "responsibility for the actions of its officials" in relation to the Lockerbie bombing.