( CNN ) -- The United States will support an effort by several members of the U.N. Security Council to override the United Nations ' sanctions committee and allow countries to free up frozen Libyan assets to speedily provide funds for the Libyan opposition 's National Transitional Council . The Obama administration has tried for days to get approval from the U.N. sanctions committee to unfreeze $ 1 billion to $ 1.5 billion worth of Libyan assets , but South Africa has been blocking that move . Libyan leader Moammar Gadhafi funded South Africa 's African National Congress -- now the ruling party -- when it was a liberation movement fighting the white apartheid regime . A Security Council meeting Wednesday concluded without a vote on a draft resolution to free $ 1.5 billion of assets . If South Africa does n't lift its objections , Washington will call for a vote Thursday afternoon , U.S. officials said . South Africa -- which the officials say does not object to releasing some , but not all , of the money for urgent humanitarian needs -- does not have veto power and would not be able to block the resolution . `` We 're simply proposing more time , '' South African Ambassador Baso Sangqu said Wednesday . He said it is premature for the United Nations to recognize the rebels as the legitimate government of Libya , which would be the effect of releasing the money to them . He added that there is a version of the resolution that `` excludes any recognition by the Security Council of either party . And if that is carried , South Africa will consider that . '' Earlier in the day , a senior Obama administration official , speaking on background because of the diplomatic sensitivity of the issue , said : `` If we do not have sanctions committee action today , which is the best way for this to work , ... we will support the effort by some other countries to get this done in the Security Council . '' `` This has been going on for weeks and weeks , '' the official said . The administration official said that `` if there are members who are not going to support ( the resolution ) , we 're going to find another way to get the Libyans their money . '' Large amounts of money held by the Libyan regime in foreign bank accounts were frozen by the council in February and March . The resolution would also lift sanctions from banks and other Libyan entities . CNN 's Richard Roth reported from the United Nations ; Jill Dougherty reported from Washington ; Mick Krever contributed to this report .
The United States and other countries are exploring ways to help the Libyan government . A resolution would release $ 100 million of frozen Libyan assets . South Africa has been blocking committee passage of the resolution .