Some 40 delegations from coalition comprising the UN, NATO, Arab League and the African Union are preparing to meet in London today to discuss the situation in war torn Libya. US President Barack Obama has defended the first war launched under his presidency, insisting US Military involvement in Libya will be limited. Addressing Americans, he said US intervention had saved countless lives threatened by forces of Muammar Gaddafi. President Obama added that having led the initial campaign, the US would hand it over to NATO allies on Wednesday.US President also held a video conference with British Premier David Cameroon, French counterpart Nicolas Sarkozy and German Chancellor Angela Merkel. White House Press Secretary Jay Carney said they had a broad strategic discussion of recent events in the West Asia and focused particular attention on Libya and Egypt.Meanwhile, the rebel advance inside Libya has been slowed down near Sirte.