As the regime attacks civilians, European states are tearing up their trade deals with Gadaffi and his family
The European Union’s decision to freeze the assets of the Central Bank
of Libya, the Libyan Investment Authority sovereign fund and other
businesses could have serious consequences for Libyan investment in
sub-Saharan Africa, where Colonel Moammar
el Gadaffi sought to build strong trade as well as political
links. The majority of Central Bank and the LIA portfolio, worth around
US$70 billion world-wide, is in the EU and United States: holdings in Italy’s UniCredit bank, Fiat,
Juventus football club; Pearson, the Financial
Times’s publisher, in Britain;
and the Vivaldi and Milano Due hotels in Malta (AC Vol 43 No 23).
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