U.S. official: Frozen Libya assets exceed $34 billion

WASHINGTON Thu Apr 7, 2011 11:01am EDT

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WASHINGTON (Reuters) - Libyan assets frozen by the United States as part of sanctions against Muammar Gaddafi and his top officials have now risen to more than $34 billion, the Treasury's top official for sanctions, anti-terrorism and money laundering said on Thursday.

David Cohen, who is nominated to take over as the Treasury's undersecretary secretary for financial intelligence, told a U.S. Senate confirmation hearing that European authorities have frozen a "substantial amount" of other such assets. He said the amount is difficult to gauge, but probably is less than the more than $34 billion frozen by U.S. authorities.

(Reporting by David Lawder; Editing by James Dalgleish)