Japan freezes $4.4 bn worth of Gaddafi regime assets

By IANS/RIA Novosti,

Moscow : The Japanese government has frozen $4.4 billion in financial accounts of Libyan leader Muammar Gaddafi and his supporters, Japan Today said Saturday.


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The measure followed the UN’s sanctions against Libyan authorities. In March, Japan included 18 officials and organisations of the Gaddafi regime and the Central Bank of Libya in the sanctions list.

The US has frozen about $30 billion of Libyan assets along with the EU and Switzerland.

In May, US Secretary of State Hillary Clinton said Washington would use part of the frozen funds in the interests of Libyan people.

Protests against the Gaddafi government began in mid-February and have spiralled into violent confrontation leading to thousands of casualties, according to international organisations.

Libyan authorities have denied the toll.

In March, the UN Security Council introduced a no-fly zone over Libya and started delivering pinpoint air strikes on Gaddafi’s bases. Now NATO controls the operation, which it has extended until September.

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