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Switzerland freezes assets of former Ivorian and Tunisian presidents

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Switzerland freezes assets of former Ivorian and Tunisian presidents

2011-01-20 10:33:56 GMT+7 (ICT)

ZURICH, SWITZERLAND (BNO NEWS) -- Switzerland on Wednesday froze the assets from former Ivorian and Tunisian presidents with immediate effect, Swissinfo news agency reported.

Swiss Foreign Minister Micheline Calmy-Rey announced that the cabinet decided to froze the bank accounts and other related assets of former leaders Zine al-Abidine Ben Ali and Laurent Gbagbo.

Ben Ali fled last week from Tunisia as the population organized a series of demonstrations against over economic issues which resulted in violent riots against police forces.

The demonstrations increased after reports surfaced indicating that the family of the Tunisian leader fled Tunisia with 1.5 tons of gold. An investigation w as launched on this issue.

On the other hand, Laurent Gbagbo continues to deny his defeat in the run-off of the presidential elections in which opposition candidate Alassane Ouattara was victorious. He ordered annulment of votes and was declared winner afterwards amidst international condemnation.

Côte D'Ivoire is currently under the verge of a civil war as supporters of Gbagbo, including the Ivorian army, are fighting with Ouattara's allies and United Nations peacekeepers.

Calmy-Rey said the freezing of assets would apply for a three-year period to allow time for the countries concerned to initiate criminal proceedings against the former leaders. After that, the two African countries could apply to Switzerland for judicial aid and ultimately the return of the frozen assets.

Previously, the U.S. imposed financial sanctions on a selected group of Ivorian politicians, including Gbagbo. The sanctions blocked all property of the designated individuals subject to U.S. jurisdiction and will prohibit all U.S. citizens from engaging in any transactions with them.

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-- © BNO News All rights reserved 2011-01-20

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