Or, just who is ’sovereign’ in a sovereign wealth fund, anyway?
Western powers were starting to catch up with the Libyan people in hitting Colonel Gaddafi where it hurts on Friday. In this instance, by freezing financial assets, as part of a package of sanctions.
From the Telegraph late on Thursday:
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.