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Vol 52 No 6

Published 18th March 2011


Libya

Europe's new line on Gadaffi

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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