Showing posts with label assets. Show all posts
Showing posts with label assets. Show all posts

Friday, March 4

USA, u.k. consider freezing Egyptian assets

WASHINGTON — A high-level officials the U.S. says the Obama management freezing the assets of the top aides is to study the applications of Egypt's new government ousted President Hosni Mubarak.

The official told reporters at the State Department on Monday that the Administration had but get requests on some top officials in Mubarak's regime not the former President himself.

The official said the Treasury Department is looking at you and will take a decision in the coming days. The official do not identify individuals, which US property values were examined, and spoke on condition of anonymity because of the confidential nature of matter.

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Official's comments came after Britain's Foreign Minister said the European Union a request from Egypt's military rulers to the freezing of assets discuss members of Mubarak's regime.

William Hague said the House of Commons on Monday, that Egypt had asked new leader that United Kingdom and others deal with several former officials, but not specified whether they contain Mubarak himself.

Hague said the European Union finance ministers would discuss the request later Monday and Tuesday in their talks in Brussels.

"If it evidence of illegality or misuse of State property we will firm and rapid action," said Hague.

To impose an asset freeze on an outgoing leader, the EU needs the support of all 27 Member States and usually coordinate its actions with the new Government.

Last week, the bloc announced the freezing of assets of 48 ex-Tunisian officials including former President Zine Al Abidine Ben Ali and his wife.

Haag, who last week is a three-day, five country tour of the Middle East and North Africa carried out - but not Egypt visit - said he spoke with Egyptian Prime Minister Ahmed Shafiq Sunday.

He told lawmakers he quickly an Egyptian military Government set schedule for Parliament and presidential elections called had.

"It is in our national interest and you to make a successful transition to a broad-based Government and an open and democratic society," said Hague.

He said he also calls for the immediate release of demonstrators, journalists and activists of human rights during the protests in prison led to Mubarak's demise.

"In Egypt, as in Tunisia, a precious moment of opportunity for people in Egypt, a stable and democratic future, to reach there now" Hague said.

Hague expressed also his concern that the unrest in the Middle East stall further progress of the peace negotiations between Israel and the Palestinians could. He said that both sides must demonstrate that "the visionary audacity in talks to return and make real compromise."

He also warned that the political unrest in the region the ambitions of Iran to develop nuclear weapons should distract not world powers from the task of control.

"Steps to the legitimate peaceful pressure increase" on compliance with U.N. discuss Great Britain and the allies demands to open its secret nuclear program, Tehran, he said.

Copyright 2011 associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed are.

Thursday, March 3

Treasury says $30 billion in Libyan assets frozen

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.

Sunday, February 13

Switzerland freezes assets of Mubarak bound

Geneva - the Swiss Government on Friday froze all assets owned by former Egyptian President Hosni Mubarak and his family in the Switzerland.

Lars Knuchel Foreign Ministry spokesman who will order to block bank accounts take effect immediately, said but gave no details about the family assets.

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He spoke as going on pro-democracy protesters in Cairo the announcement celebrated Mubarak joined after almost three decades of authoritarian rule and is passed to the military.

Swiss Finance Minister Widmer-Schlumpf was earlier this week from Swiss national television SF had asked if Mubarak and his family money in the Switzerland.

"We have very clear evidence, is all here, but of course we are this deal and we are to act", she said.

She said that Foreign Ministry was investigated.

Story: Mubarak resignation revived investors' hope

3.6 Billion Swiss francs (approx. 3.5 billion USD), according to the Swiss National Bank at the end of 2009 amounted Egyptian deposits in Swiss bank accounts.

© 2011 Associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed are.

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