EU lifts asset freeze on Austrian Gaddafi associate

The European Union announced Tuesday it was lifting the assets freeze on Libyan businessman Mustafa Zarti, believed to be a close associate of Libyan leader Muammar Gaddafi. The decision was published in the Official Journal of the European Union on Friday. The bloc froze Zarti's assets in early March in a new wave of sanctions targeting the Gaddafi regime. Earlier, Brussels had already ordered an asset freeze and visa ban against the Libyan leader and 25 others for brutalising civilians. Zarti, who also holds an Austrian passport, was a former vice-chairman of the Libyan Investment Authority (LIA). According to press reports, he also looked after Gaddafi's assets in Austria, which were worth nearly 30 billion dollars (22 billion euros). Zarti appealed in March another asset freeze imposed by Austria, insisting it was unconstitutional, but lost his appeal.