Germany freezes over 10 bln euros in Libyan assets: report
German banks including the Bundesbank have frozen over 10 billion euros in Libyan assets following a European Union decision, Der Spiegel reported in its edition to be published Monday.
The frozen funds are in 193 accounts in 14 banks, including one with a balance of 1.96 billion euros (2.72 billion dollars) at the central Bundesbank, the German newsweekly said.
On Tuesday, the 27 nations of the EU decided to impose tough new sanctions on the regime of embattled Libyan strongman Moamer Kadhafi, notably on the LIA, the overseas investment vehicle for Tripoli's oil revenues.
Set up in 2006, the LIA has significant holdings in Italian bank UniCredit, Italian defence and aeronautical group Finmeccanica, Juventus Football Club and Pearson, the publisher of the Financial Times, which itself froze that holding last week.
Kadhafi is fighting a popular rebellion, with the international community discussing and implementing a range of sanctions and other measures including a no-fly zone to prevent his forces attacking civilians.
© 2011 AFP