ID :
167258
Thu, 03/10/2011 - 17:17
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http://m.oananews.org//node/167258
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EU, China firms continue buying Libya oil despite tough sanctions
LONDON, March 10 (Itar-Tass) - Several companies from EU countries as
well as China continue purchasing Libyan oil, rendering thereby financial support for the Muammar Gaddafi regime, even despite the use of stringent international sanctions against Tripoli.
The Financial Times newspaper of London reports on Thursday that the Chinese Unipec Company, a subsidiary of the Sinopec Oil Group, dispatched on Wednesday a supertanker to one of Libyan terminals in an attempt to buy two million barrels of oil whose value totals 230 million US dollars at the present price situation.
The fact of purchasing the main Libyan energy carrier was also
confirmed by the Austrian oil company OMV already after the imposition of sanctions. Moreover, it expressed its intention to continue purchasing oil in that country in future on the grounds that the regime of sanctions is applied only to specific persons in the Libyan leadership, but not to economic structures which are under control of Colonel Gaddafi, including such as the National Oil Company and the Central Bank.
Therefore, the Austrian company claims, its actions are not at
variance with restrictions formats, imposed by the UN and the EU on
economic cooperation with Libya.
It is noted at the same time that many European companies that could formally follow the same line of bypassing sanctions, were still forced to discontinue contacts with Libya over position of banks, refusing to finance such deals.
It was made public in London that Brussels is now drafting a document, providing for broader sanctions against Tripoli. The list of new restrictions on contacts with Tripoli is planned to be submitted for confirmation of a one-day EU summit to be held in the Belgian capital on March 11. According to Itar-Tass sources, "sanctions will affect four spheres, including finance and energy".
For instance it is planned to impose a complete ban on the operations with the Libyan biggest state investment fund - Libyan Investment Authority. Head of this fund Mustapha Zarti, regarded one of the biggest Libyan financiers, announced on February 24 that he sided with the opposition.
Speaking in an interview on Thursday with the Bloomberg business news TV channel, he said that the Fund's liquidity stands at 65 billion dollars. "Money, mostly in cash, is deposited in banks and funds in various countries," Zarti explained.
well as China continue purchasing Libyan oil, rendering thereby financial support for the Muammar Gaddafi regime, even despite the use of stringent international sanctions against Tripoli.
The Financial Times newspaper of London reports on Thursday that the Chinese Unipec Company, a subsidiary of the Sinopec Oil Group, dispatched on Wednesday a supertanker to one of Libyan terminals in an attempt to buy two million barrels of oil whose value totals 230 million US dollars at the present price situation.
The fact of purchasing the main Libyan energy carrier was also
confirmed by the Austrian oil company OMV already after the imposition of sanctions. Moreover, it expressed its intention to continue purchasing oil in that country in future on the grounds that the regime of sanctions is applied only to specific persons in the Libyan leadership, but not to economic structures which are under control of Colonel Gaddafi, including such as the National Oil Company and the Central Bank.
Therefore, the Austrian company claims, its actions are not at
variance with restrictions formats, imposed by the UN and the EU on
economic cooperation with Libya.
It is noted at the same time that many European companies that could formally follow the same line of bypassing sanctions, were still forced to discontinue contacts with Libya over position of banks, refusing to finance such deals.
It was made public in London that Brussels is now drafting a document, providing for broader sanctions against Tripoli. The list of new restrictions on contacts with Tripoli is planned to be submitted for confirmation of a one-day EU summit to be held in the Belgian capital on March 11. According to Itar-Tass sources, "sanctions will affect four spheres, including finance and energy".
For instance it is planned to impose a complete ban on the operations with the Libyan biggest state investment fund - Libyan Investment Authority. Head of this fund Mustapha Zarti, regarded one of the biggest Libyan financiers, announced on February 24 that he sided with the opposition.
Speaking in an interview on Thursday with the Bloomberg business news TV channel, he said that the Fund's liquidity stands at 65 billion dollars. "Money, mostly in cash, is deposited in banks and funds in various countries," Zarti explained.
