Report: Germany freezes 6 billion dollars of Libyan funds

Business Materials 16 April 2011 14:23 (UTC +04:00)

Germany has frozen six billion dollars (4.15 billion euros) of Libyan state funds, Spiegel news magazine reported Saturday.

The figure appeared in a memo written by Economics Minister Rainer BruederleBruederle, demanding that all assets of Libyan ruler Moamer Gaddafi seized in Europe should be transferred to the United Nations, DPA reported.

"The UN could use it to pay for humanitarian deliveries to reduce the population's hardship in all of Libya," Bruederle wrote.

The minister was reportedly encouraging a European Union initiative to transfer Libya's seized assets to a UN trust fund.

In the memo, Bruederle also demanded that the EU should permanently withhold assets of the Gaddafi regime. "The EU states need to act together," the memo stated.