Japan freezes assets of Libya's Gaddafi, others

Reuters News
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Posted: Mar 18, 2011 4:38 PM
Japan freezes assets of Libya's Gaddafi, others

TOKYO (Reuters) - Japan said on Tuesday it has imposed sanctions on Libya, including freezing assets of leader Muammar Gaddafi and several other Libyans, in line with a U.N. Security Council resolution.

The United Nations and European Union have imposed sanctions on Libya and frozen government assets after forces loyal to Gaddafi fired on protesters in the oil-producing country.

"Based on the U.N. resolution, the cabinet agreed that Japan would carry out these measures, for the sake of unity with the international community," Japanese Finance Minister Yoshihiko Noda told a news conference after a cabinet meeting.

The value of the assets affected by the Japanese sanctions was not immediately clear.

A finance ministry official said a figure for the targeted assets' value would become available only after the freeze was in place at financial institutions.

Japan's annual exports to Libya are about 30 billion yen ($364.6 million), while imports total around 100 million yen, Kyodo news agency said.

Japan imports no oil from Libya.

(Reporting by Tetsushi Kajimoto, Shinichi Saoshiro, Linda Sieg, Kiyoshi Takenaka; Editing by Edmund Klamann)