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Treasury freezes $30B in Libyan assets

Feb. 28, 2011 at 4:35 PM   |   Comments

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WASHINGTON, Feb. 28 (UPI) -- The U.S. Treasury announced Monday it froze $30 billion in Libyan assets belonging to leader Moammar Gadhafi, his family and government entities he controls.

The action was taken under an executive order President Obama issued Friday, The Washington Post reported.

"As of today, at least $30 billion in government of Libya assets under U.S. jurisdiction have been blocked," David Cohen, Treasury's acting undersecretary for terrorism and financial intelligence, said. "This is the largest blocking under any sanctions program ever."

Cohen said he has no details on the types of assets that were frozen or the banks involved.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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