25.02.2011, 10:54 3964

Gaddafi's billions to be seized by Britain

Gaddafi's funds are expected to be seized by Britain, Kazakhstan Today reports.

Almaty. February 25. Kazakhstan Today - Gaddafi's funds are expected to be seized by Britain, Kazakhstan Today reports.

Ministers have identified billions of pounds that Col Muammar Gaddafi and the Libyan regime have deposited in London, The Daily Telegraph reported.

The funds are expected to be seized within days. The Treasury is understood to have set up a unit to trace Col Gaddafi's assets in Britain, which are thought to include billions of dollars in bank accounts, commercial property and a ?10 million mansion in London.

In total, the Libyan regime is said to have around ?20 billion in liquid assets, mostly in London. These are expected to be frozen as part of an international effort to force the dictator from power. A Whitehall source said: "The first priority is to get British nationals out of Libya. But then we are ready to move in on Gaddafi's assets, the work is under way. This is definitely on the radar at the highest levels."

Col Gaddafi was yesterday accused of ordering the deaths of thousands of protesters, but he refused to surrender as Libya descended into civil war.

United Nations experts estimated that more than 3,000 people may have died, while militias were reported to have executed wounded protesters.

International attention is now expected to turn to efforts to force Col Gaddafi from power. Hillary Clinton, the US Secretary of State, is expected to attend UN talks in Switzerland on sanctions and plans for a no-fly zone over Libya. Last night the Swiss announced they were freezing Col Gaddafi's assets in the country.

There is also growing concern over the impact of the turmoil on oil prices, which yesterday hit their highest level since the crisis began. The price of a litre of fuel in British petrol stations has risen by 3p over the past few days.

The US last night dismissed rumours begun by oil traders that Col Gaddafi had been shot and killed. Earlier, the defiant Libyan leader gave a rambling address to state television via telephone. "Our youths have been drugged and they have been misled to wage war against our country," he said.

This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.

Found an error in the text?

Select the error and press Ctrl + Enter at the same time.

relevant news

Most viewed