EU freezes assets on 88 Ivorians, 11 firms close to Ggagbo - Summary

Fri, 14 Jan 2011

Brussels - The European Union on Friday agreed to place a freeze on the assets of 88 individuals and 11 companies linked to Ivorian leader Laurent Gbagbo, EU officials said.

Besides the freeze on the assets of the 88, this list of people were also being banned from entering the EU. At the end of December the EU had imposed an entry ban on 78 people then deemed of "obstructing the peace process."

Gbagbo has rejected the results of Ivory Coast's presidential election in which he appeared to be ousted by challenger Alassane Ouattara. However, international observers overwhelmingly said that the results were valid, leaving Gbagbo in increasing isolation.

The list of Gbagbo allies and supporters to be targeted would come into force once it is officially published by the EU, either on Saturday or early next week, the EU officials said.

Analysts said that the key question would be how far the EU would target key Ivorian industries, especially the cocoa and oil trades. Such sanctions would have the maximum impact on the Gbagbo camp, but would also hit everyday citizens hard.

EU nations have unanimously hailed Ouattara as the winner of the election and have refused to accredit diplomats nominated by Gbagbo. The asset freeze comes alongside a visa ban, already in place.