Canada Grabs Libya by the Assets Canada freezing Libyan assets (~$2 billion): “The Canadian government has frozen more than $2 billion in Libyan assets so far, and continues to target holdings of embattled ruler Moammar Gadhafi and his family, CBC News has learned. The move to freeze the assets came after Canada learned the Libyan regime was planning to withdraw the funds from as-yet-unidentified Canadian banks ….” More from FINTRAC, Canada’s agency for tracking suspicious money movements, here, and from Reuters.
The Commentariat on Libya (1) Bad news for Libya could be good news for Canada?“…. Canada is likely to be one of the few western beneficiaries of the uncertainty that is sweeping the Arabian Peninsula and North Africa. The reason is, of course, oil. For decades to come the tarsands are going to be Canada’s trump card every time there is volatility in international energy markets …. The events of the past two months, and dramas still unfolding in Tunisia, Egypt, Yemen, Jordan and oil-rich countries such as Libya, Oman and a few of the Gulf sheikdoms, make it more and more obvious that there is going to be a keen demand for Canada’s so-called “dirty oil” for years to come. Viewed through this prism, if the U.S. does not want the kind of oil that Canada has to offer, China and India, with huge economic ambitions to fuel, almost certainly will ….”
The Commentariat on Libya (2) Help out, by all means, but be careful about too much military “help”.“…. For Western powers to involve themselves more deeply in Libya would be counterproductive. It would suggest to pro-democracy elements in the Middle East that, if their opposition becomes violent, they will get help from the West. It would put non-Libyan lives at risk in a situation that is extremely difficult to assess from outside – without any clear benefit to Libyans themselves. Indeed, military intervention might eventually provoke an anti-Western reaction that could end up discrediting the democrats that the West rightly wishes to encourage and help. By seizing assets abroad and imposing diplomatic sanctions, the West should indeed tighten the vise on Col. Gadhafi. But it should not use its military forces to depose him, in what is ultimately a matter that must be decided by Libyans.”
More news on the latest in Libya here (Google News), here (EMM News Brief: Libya), here (NewsNow), here (BBC) and here (Al Jazeera English).
More on Canada’s upcoming mission in Afghanistan (highlights mine): “The government’s plan to keep 1,000 Canadian troops near Kabul after their mission in Kandahar ends this year is looking increasingly unlikely after comments from the military’s second-in-command last week. “There will be no Canadian Forces units located in Kandahar province after 2011,” Vice-Admiral Bruce Donaldson, the vice-chief of the defence staff, told the Conference of Defence Associations in Ottawa on Feb. 25. “Rather, our training mission will be Kabul-centric, meaning that the main effort will be centered in and about the city of Kabul. “That said, a small number of CF personnel may be assigned to other areas of Afghanistan where the risks to our personnel is assessed to be no greater than that found in Kabul.” ….” Hmm, wonder where that might be? And how safe, really, is Kabul these days?
Ooopsie. “A Tutor jet, the plane assigned to the military’s aerobatic flying team known as the Snowbirds, was damaged during a landing at 15 Wing Moose Jaw Tuesday afternoon around 3 p.m. CT. Its two crew walked away from the plane and were to be evaluated by medical staff ….”