U.S. Froze $34 Billion in Libyan Assets, Treasury’s Cohen Says

The U.S. has frozen about $34 billion in Libyan assets connected to Libyan leader Muammar Qaddafi, Treasury official David Cohen said.

Cohen, the Obama administration’s nominee for Treasury undersecretary for terrorism and financial crimes, was testifying today before the Senate Finance Committee. Cohen had been assistant secretary for terrorist financing.

Cohen, 47, said assets of about 30 Libyan entities have been frozen by the U.S. government.

To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

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