Middle East Economic Survey

VOL. LIV

No 12

21-Mar-2011

LIBYA

Libya Asset Freeze Widens To Over $50Bn

In addition to facing a UN Security Council no-fly zone resolution, Col Mu'ammar al-Qadhafi is also seeing the UN- and EU-backed freeze on his assets widen to over $50bn. The US has frozen around $32bn in Libyan assets, Canada C$2.3bn ($2.4bn) and the UK said on 11 March it had hiked the amount from the initially announced 1bn ($1.6bn) to 12bn ($19.2bn). This takes the global tally to...