(February 28, 2011, WSJ) --The assets of Col. Moammar Gadhafi and his entourage were frozen over the weekend by the U.S., the United Nations and the U.K. as the international community isolates the Libyan regime for its violent crackdown on protesters. On Monday morning, the European Union also announced sanctions.
Along with the asset freeze, the sanctions on Libya include an arms embargo and travel bans on Gadhafi, his family and inner circle. Gadhafi, the mercurial leader of the country since 1969, has denied any crackdown, saying Tripoli is safe and stable in remarks on state television since protests began Feb. 17.
“These sanctions therefore target the Qaddafi government, while protecting the assets that belong to the people of Libya,” President Barack Obama said in a statement Friday evening announcing his executive order on Libya.
By Saturday afternoon, he said Gadhafi had “lost the legitimacy to rule and needs to do what is right for his country by leaving now,” according to a White House readout of a conversation Obama had with German Chancellor Angela Merkel. Read more from The Wall Street Journal »
Along with the asset freeze, the sanctions on Libya include an arms embargo and travel bans on Gadhafi, his family and inner circle. Gadhafi, the mercurial leader of the country since 1969, has denied any crackdown, saying Tripoli is safe and stable in remarks on state television since protests began Feb. 17.
“These sanctions therefore target the Qaddafi government, while protecting the assets that belong to the people of Libya,” President Barack Obama said in a statement Friday evening announcing his executive order on Libya.
By Saturday afternoon, he said Gadhafi had “lost the legitimacy to rule and needs to do what is right for his country by leaving now,” according to a White House readout of a conversation Obama had with German Chancellor Angela Merkel. Read more from The Wall Street Journal »
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