Tunisia freezes Gaddafi family assets: Report

Last Updated: Thursday, March 24, 2011 - 15:54

Tunis: Libya`s neighbour Tunisia has frozen assets belonging to the family of Libyan leader Muammar Gaddafi, a Tunisian government source said on Thursday.

Western countries, the United Nations and the European Union have already frozen Libyan government and Gaddafi family assets as part of a package of sanctions imposed after Libya`s crackdown on a revolt against Gaddafi`s rule.

"Tunisia has frozen the assets of Gaddafi and five members of his family following a decision by the United Nations," the source, who did not want to be identified, said.

The freezing of assets in Tunisia is likely to have a significant impact because Libya has dozens of investments there, including hotels, a chain of petrol stations and a stake in an oil terminal.

Most of those assets are owned by Libyan state investment vehicles, but many of these are de facto controlled by members of Gaddafi`s family.

Tunisia is also used by Libya`s elite as a base for banking, vacations and healthcare, a practice which dates back to the 1980s and 1990s when international sanctions on Libya meant they had limited access to these services at home.

Bureau Report



First Published: Thursday, March 24, 2011 - 15:54

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