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A tangled web

Published on March 5, 2011 2:29 PM | Comments

But Italy — which gets nearly a quarter of its crude oil and 10 percent of its natural gas from Libya, has billions of dollars in lucrative contracts with the Libyan government and receives billions more in Libyan investments — has held back on freezing any assets. Officials say they are waiting for a “coordinated” response about whether the measure applies to Libyan sovereign funds, a ruling that Italy said it hoped would come as soon as next week.


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