"Efforts to release overseas assets tied to the Qaddafi regime have proved complicated and controversial. Releasing the assets will be both politically and legally complicated, because the frozen funds include investments and property owned by private individuals, such as members of Qaddafi's family. Not only has the new Libyan leadership claimed all the frozen funds as its own but American victims of Qaddafi-era terrorism have also clamored for compensation from the assets. [source ]
So President Obama just extended the sanctions on Libyan assets effectively delay business and payments etc..... but I don't think anyone was surprised reallly, it would have been too good to be true if the money or whatever was in the assets was returned to Libya. First of all who has a legitimate claim to pick it up? I'm happy that no Libyan crooks would get their hands on it. But I don't think anyone of the Libyan people will ever see it again. It's a spoil of war and that is fashionable in the Libyan war of 2011 :P
My understanding is that the American victims of Qaddafi era terrorism have received their compensation why do they want more ? who are the other victims ? was this not settled? can people stop digging these old stories. Gaddafi is dead I don't think any new Libyan government should be held at the barrel of a gun of the crazy past.
These assets are what the country is counting on so as not be in debt and help with rebuilding...
In the same article the author states :
"the situation in Libya continues to pose an unusual and extraordinary threat to the national security and foreign policy of the United States, and we need to protect against this threat "
Why is Libya a threat? it is a war ravaged country .... don't understand the posturing.
It shows there is something fomenting, we hope it is nice and not devastating to the Libyan people !
Wherever Libya is turning it's head it's assets are either still under sanctions or in a black hole ( like the sovereign funds ) or supposedly released in a way that makes them useless though I am aware of the level of corruption in Libya which is appalling and embarrassing so I can understand the foreign countries are looking to protect Libyans?
Also who would blame them for keeping unclaimed assets etc.... there is recession at their door every where you turn around.
Meanwhile the fabled Libyan assets are 'dwindling'
I have not read the executive order so no idea when does this renewal end maybe it's just until we have an elected government ?
update 2 am : just read it and this is what it says :
"Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency declared in Executive Order 13566."
