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U.S. sanctions 3 firms owned by Libyan government
May 5, 2011 / 5:07 PM / 6 years ago

U.S. sanctions 3 firms owned by Libyan government

WASHINGTON (Reuters) - The United States Thursday sought to increase pressure on the Libyan government by imposing financial sanctions on three companies owned by Muammar Gaddafi’s government.

London-based Dalia Advisory Ltd, Libya’s state broadcasting company and Lafico Algeria Holdings, an Algeria-based subsidiary of the Libyan Arab Foreign Investment Company, were added to the U.S. sanctions blacklist.

The sanctions prohibit U.S. transactions with the firms and seek to freeze any assets they may have under U.S. jurisdiction.

Dalia is owned by the Libyan Investment Authority (LIA), which was established in 2006 to manage the country’s oil revenues. In mid-March, the LIA and the Libyan Arab Foreign Investment Company were sanctioned by the United States.

The U.S. Treasury has frozen more than $34 billion in Libyan government assets so far. U.S. Secretary of State Hillary Clinton said Washington would seek to unlock some of the frozen funds to help the rebel movement.

Reporting by Rachelle Younglai; Editing by Bill Trott

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