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Britain freezes Kadhafi's assets

28 february 2011, 01:59
Photo courtesy of wordpress.com
Photo courtesy of wordpress.com
Britain Sunday froze the assets that Libyan leader Moamer Kadhafi and his family have held in the European country, Agence France-Presse reports.

"I have today taken action to freeze the assets...so that they cannot be used against the interests of the Libyan people," British finance minister George Osborne said in the statement.

"This is a strong message for the Libyan regime that violence against its own people is not acceptable," Osborne added.

The government froze "the assets of Colonel Muammar Abu Minyar al-Qadhafi (Kadhafi), members of his family and those acting on their behalf or at their direction," the statement said.

Britain's Department for Business, Innovation and Skills also signed an order to prohibit the export of uncirculated Libyan banknotes without a licence from the UK.

The British action follows that taken by Washington, who signed an order freezing the Libyan leader's US assets earlier Sunday.

Britain understands that Kadhafi owns around 20 billion pounds (32.2 billion dollars, 23.4 billion euros) in liquid assets, mostly in London, according to the Telegraph newspaper.

According to reports, Kadhafi's British assets include bank accounts, commercial property and a 10 million-pound London home.

Saturday, the UN Security Council unanimously ordered a travel and assets ban on Moamer Kadhafi's regime and a crimes against humanity investigation into the bloodshed blamed on the Libyan strongman.

It also called for an immediate arms embargo against Libya, where the UN says more than 1,000 people have been killed in attacks blamed on Kadhafi loyalists.

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