Italy has 1 billion euros of Gaddafi money

Libya demands country's assets released soon

GMT 17:41 2012 Thursday ,21 June

Arab Today, arab today Libya demands country's assets released soon

Assets owned by the Gaddafi family confiscated by Italy
Tripoli – Emad Agag

Assets owned by the Gaddafi family confiscated by Italy Tripoli – Emad Agag The head of the Interim Committee of the Libyan General Authority for Investment, Mohsen Drigh, said he hoped the Libyan assets confiscated by the Italian judicial authorities in March will soon be released. Drigh made the comments during a meeting held on Tuesday with the Financial Security
Committee at the Ministry of Economy and Finance.  According to an Italian agency, Drigh said: “We hope to focus again on our investments in Italy until the Libyan interests are released" adding: “We are happy with the support received so far by the Committee in relation to this matter and we hope to overcome this misunderstanding as soon as possible.”
Drigh stated that the Italian judicial authority currently has a rate of 1.8 percent in Unicredit bank, while the Central Bank of Libya has nearly twice this percentage.
“We should increase the number of managers in Unicredit to allow the access of representatives of Member States that own a large share."  He said.
A delegation of the Libyan Authority for Investment is currently visiting and working on the release of the assets confiscated by Italy, said to be owned by the Gaddafi family, which are estimated at more than one billion euros.
The Italian authorities pointed out that the confiscation came in response to
the provisions of the Court of Appeal in Rome, according to international letters by
the International Criminal Court in Hague, relating to proceedings for crimes against humanity
against Gaddafi's son Saif al-Islam and former head of Libyan Intelligence Abdel Allah Sanussi.
Italian newspaper Corriere della Sera reported on Tuesday that the sovereign wealth fund  
delegation’s visit to Italy, comes after the announcement of the Libyan Investment Authority earlier which intents to appeal against the confiscation of the Gaddafi family assets.
Libyan Foreign Minister in the interim transitional government, Ashour Ben khayal, confirmed
later that his country will demand the Libyan money confiscated by the Italian authorities, saying it belongs to the people.

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