Australian bank freezes funds of 16 Libyan key figures

14:43, March 09, 2011      

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Reserve Bank of Australia (RBA) on Wednesday confirmed it has frozen transfer or payments of money by 16 key figures associated with the Libyan government.

RBA on Wednesday issued a statement revealing the sanctions against key individuals, including three sons of Libyan leader Muammar Gaddafi, two of his cousins as well as his brother in-law.

Fund transfers will also be blocked to the Libyan defense minister, the secretary for utilities, the head of Gaddafi's personal security as well as other senior military figures.

"Transactions involving the transfer of funds or payments to, by the order of, or on behalf of any (listed) person are prohibited without prior approval from the Reserve Bank," the RBA said in a statement released on Wednesday.

The announcement came after the Australian federal government announced travel and financial restrictions on 22 Libyan figures, including Gaddafi, last month.

Libya is witnessing the largest-ever unrest in the nation for the past four decades, which first broke out on Feb. 16 in the eastern city of Benghazi. The massive protests demanding Libyan leader Muammar Gaddafi end his 42-year rule have escalated into violent clashes between anti-government protesters and pro-Gaddafi troops.

Source: Xinhua

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