Treasury says $30 billion in Libyan assets frozen

12:07 AM assets, billion, frozen, Libyan, Treasury No Comments

A record WASHINGTON banks froze $30 billion of Libyan assets over the weekend in response to a Obama administration order, aimed at pressuring the regime of Libyan leader Muammar Gaddafi.

In a telephone briefing, a senior official of the Treasury Department said the amount the largest sum that was of any single order blocked ever issued by the US Government.

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David Cohen, acting Treasury under Secretary for terrorism and financial intelligence, said the Department in contact with banks was during the weekend. He said, you "connected to scour their accounts for any more funds with Gaddafi or his family".

President Barack Obama signed an executive order freezing the assets last Friday in response to Gaddafi's bloody crackdown on an uprising against his 41-year-rule. Obama, the legitimacy of Gaddafi said the rule was was "reduced to zero" as a result of the measures against protesters.

Cohen was taken that a resolution freezing Libyan assets also insisted the United Nations and that the European Union involved appropriate action to the attention. Aside he refused questions whether the United States Libyan asset information in Europe except had to say, that the Finance Ministry assumed that some outside U.S. jurisdiction were.

He said the U.S. order applied to all the banks under US laws in the United States and branches of the United States, banks that were in other countries.

Copyright 2011 Thomson Reuters.