Posts Tagged ‘assets

23
Mar
11

‘how the u.s. pulled off a major freeze of libyan assets’

Washington Post: The Treasury Department team had been working nonstop on a plan to freeze Libyan assets in U.S. banks, hoping they might snare $100 million or more and prevent Moammar Gaddafi from tapping it as he unleashed deadly attacks against protesters who wanted him gone.

Now, at 2:22 Friday afternoon, Feb. 25, an e-mail arrived from a Treasury official with startling news. Their $100 million estimate was off — orders of magnitude off. The e-mail said there was in “excess of $29.7 Billion — yes, that’s a B.” And most of the money was at one bank.

It was a piece of extraordinary good fortune for the Obama administration at a crucial moment in the efforts to address the bizarre and deadly events unfolding in Libya.

Never before had U.S. officials so quickly launched economic sanctions affecting so many assets of a targeted country.

The frenetic 72 hours leading up to the Executive Order 13566 illustrate how a process of identifying and freezing assets — something that customarily has taken weeks or months — has become one of the first tactical tools to employ in the midst of fast-breaking crises.

It also shows that government officials have learned from other recent economic sanction efforts, including against Iran and North Korea. Instead of being a secondary measure, as in the past, economic sanctions have become a centerpiece of national security policy.

Full article here

****

Thank you so much for this link, Majii – the article is absolutely fascinating, and shows just how damn smart the Obama administration is.




@POTUS

@BarackObama

@WhiteHouse

@FLOTUS

@MichelleObama

@PeteSouza

Enter your email address to receive notifications of new posts by email.

@TheObamaDiary

@NerdyWonka

RSS Obama White House.gov

  • An error has occurred; the feed is probably down. Try again later.

RSS WH Tumblr

  • An error has occurred; the feed is probably down. Try again later.

RSS Steve Benen

  • President Biden set for Wednesday meeting with Vladimir Putin
  • Biden has to engage and contain Putin at the same time, says former ambassador
  • Should President Biden be meeting with Putin at all?
  • Leon Panetta: We are in a new chapter of the Cold War
  • Russia is not America's economic rival: Steve Rattner

Categories

Archives

Blog Stats

  • 43,027,185 hits
June 2021
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930