Turkey freezes Libya's bank holdingsJuly 4, 2011 - 15:12 AMT PanARMENIAN.Net - Turkey froze Libya's holdings in a Turkish bank on Monday, July 4, a day after it recognized Libya's rebel leaders as the country's legitimate representatives and quietly removed its ambassador from Tripoli. Turkey's banking regulatory fund said it was temporarily taking hold of Libyan Foreign Bank's 62 percent shareholding in Turkey's Arap Turk Bankasi A.S. in line with U.N. Security Council decisions to freeze Libya's foreign assets, AP reported. Since the beginning of the uprising in Libya, the European Union also has frozen the accounts of the country's state-controlled companies and investment funds, as well as those of key members of the Libyan regime. EU states also said they would not provide the Gadhafi regime with any new funding by buying up oil and gas from the country. Turkey's decision regarding the bank shares is the latest indication that its government is breaking ties with Libyan leader Moammer Gadhafi, despite close Turkey-Libya trade ties. Turkey has repeatedly called on Gadhafi to give up power to allow the transition to a more democratic Libyan government. Last month, Prime Minister Recep Tayyip Erdogan said he had offered Gadhafi guarantees in return for him leaving Libya but had not received a response. On Sunday, Foreign Minister Ahmet Davutoglu visited the Libyan rebel's stronghold of Benghazi, recognized the rebel's National Transitional Council as Libya's representatives, and promised an additional $200 million in aid. Turkey also formally recalled its ambassador in Tripoli, according to the Official Gazette, an official record of government decisions. Turkey joins several other countries, including France, Qatar and Italy, in officially recognizing the rebels. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | IDBank, Dalma team up for Caucasian Deer Reintroduction Program IDBank has joined Dalma Garden Mall’s Green Challenge to support the Caucasian red deer reintroduction project. Through Ucom’s support the 12th Sunchild Festival concludes On May 24-28, with the support of Ucom, the 12th international environmental festival Sunchild took place in Yerevan. U.S., Turkey emphasize importance of Armenia-Azerbaijan peace deal Jake Sullivan and Akif Cagatay Kilic have discussed the normalization process between Armenia and Azerbaijan. Armenia coach expects good football in Slovenia friendly The Armenian national team has left for Ljubljana a friendly match against Slovenia on June 4. |