It was reported that £3 billion had been transferred to British banks from Libya last week. The Chancellor of the Exchequer, George Osborne, also took steps to prevent £900 million worth of Libyan banknotes, printed in England, being exported to Libya. It was believed that Gaddafi needed the cash urgently to pay the gangs of foreign mercenaries who are helping him cling to power.
It is not clear how much property the Gaddafi family owns in Britain, but estimates have put this at about £20 billion, including bank accounts, investments and property.
The government also acted to strip the Gaddafi family of diplomatic immunity from prosecution. Diplomatic immunity is automatically granted to leaders of foreign powers but its removal from the Gaddafis effectively means that they can cannot travel to the UK. Other nations including the USA, France and Switzerland have also frozen Gaddafi’s assets and placed travel bans on him and his retinue."
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