The German government is considering using $6 billion from frozen German accounts belonging to Moammar Gadhafi’s regime, for humanitarian aid, according to Der Spiegel, quoting a memo from German Economy Minister Rainer Brüderle.
The minister wants to transfer the money to a trust account at the United Nations to be used for humanitarian supplies for civilians affected by the war in Libya.
Due to legal reasons, Germany cannot be the only country to take this step. Brüderle suggested that the member states of the European Union make a collective move so that the “frozen assets can be made available to the Libyan people as soon as possible.”
The memo proposes that the EU pass a new decree expanding the sanctions on the Libyan regime to include a freeze on all funds found in Europe. In March, the EU froze more that $19 billion in funds from five Libyan financial institutions as well as the accounts of some government officials.
The minister wants to transfer the money to a trust account at the United Nations to be used for humanitarian supplies for civilians affected by the war in Libya.
Due to legal reasons, Germany cannot be the only country to take this step. Brüderle suggested that the member states of the European Union make a collective move so that the “frozen assets can be made available to the Libyan people as soon as possible.”
The memo proposes that the EU pass a new decree expanding the sanctions on the Libyan regime to include a freeze on all funds found in Europe. In March, the EU froze more that $19 billion in funds from five Libyan financial institutions as well as the accounts of some government officials.
