Britain Blocks Gadhafi’s Attempt to Withdraw 1.4 Billion Dollars

Britain announced that it had foiled a plan by Libyan leader Moammar Gadhafi to move Libyan banknotes worth 1.4 billion dollars (1 billion Euros) out of Britain.

"The Chancellor of the Exchequer (finance minister) intervened to block the departure of 1.4 billion in notes destined for Libya," British Prime Minister David Cameron said on Monday.

It emerged Sunday that there was an attempt made to transfer 1.4 billion of uncirculated banknotes from a British secure storage facility to Libya.

Libyan authorities were first told there was no aircraft ready, and when they offered to send their own, were told to land at an airfield in Kent, south east England, despite the money being stored in the country's north east.

The British government Sunday announced it was freezing Libya's British-held assets and the money was impounded before it could leave the country.