US Freezes Former Ivory Coast President’s Assets

January 7, 2011 Updated: October 1, 2015

Nigerois UN peacekeepers patrol in a street of Abidjan on January 5, 2011. Assets belonging to former Ivory Coast President Laurent Gbagbo, his wife, and members of his inner circle were frozen by the U.S. Treasury's Office of Foreign Assets. (Issouf Sanogo/AFP/Getty Images)
Nigerois UN peacekeepers patrol in a street of Abidjan on January 5, 2011. Assets belonging to former Ivory Coast President Laurent Gbagbo, his wife, and members of his inner circle were frozen by the U.S. Treasury's Office of Foreign Assets. (Issouf Sanogo/AFP/Getty Images)
Assets belonging to former Ivory Coast President Laurent Gbagbo, his wife, and members of his inner circle were frozen by the U.S. Treasury’s Office of Foreign Assets (OFAC) on Thursday. They have been completely isolated from the U.S. financial system, prohibiting any transactions to them.

“Today’s designations will isolate him and his inner circle from the world’s financial system and underscore the desire of the international community that he step down,” said Adam Szubin, director of OFAC, in a statement on Thursday.

The Treasury Department's actions come as Gbagbo has continued to refuse to step down as president after losing in the country's recent presidential elections at the end of November.

The U.N. has warned that the West African nation is on the brink of a civil war over the political standoff.

Follow Jasper on Twitter: @JasperFakkert