Libya's Dutch accounts frozen

30th March 2011, Comments 0 comments

Three billion euros' worth of Libyan money is in Dutch bank accounts which have been frozen by the Netherlands government. UN and EU sanctions required the sequestration of accounts owned by Libyan state companies and private individuals.

Public broadcaster NOS reports that the companies involved include the Libyan Norwegian Fertiliser Company in the town of Sluiskil, half of which is owned by Libya's National Oil Corporation and the Libyan investment authority. The company possesses a production facility for ammonia, which has been deactivated.

The Dutch offices of Libyan Air Lines and Tamoil are also hit by the sanctions. US documents leaked by Wikileaks revealed earlier that diplomats reckoned that Libya's state fund had parked some 32 billion dollars in Europe and the United States.

© Radio Netherlands Worldwide

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