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News Link • Libya

Nearly $6 Billion Belonging To Dead Libyan Dictator Gaddafi Has Gone Missing

•, By Tyler Durden

At last count, RT reported that interest payments generated by the assets had reached $5.7 billion. According to public broadcaster RTBF, which cited anonymous sources familiar with the money flows, the money may have gone to accounts controlled by Libyan militia groups that have been accused of human rights abuses. 

Back in 2011, as NATO bombs were falling over Tripoli, the United Nations voted to sanction Libya and freeze all assets belonging to the Gaddafi regime that were being held abroad. As Politico explained, the regime had spread its capital across Europe and North America, investing in companies as diverse as the Italian bank UniCredit to the British publisher Pearson. But Brussels-based Euroclear, which had custody of four of the regime-linked accounts, chose not to halt the interest payments flowing out of those accounts. That's because in the EU, where national governments were charged with enforcing the sanctions, it was decided that only the assets themselves would be frozen, not the interest payments stemming from those assets.

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