The Qaddafis' Austrian Connection
As Western nations move to crack down on his assets, authorities are taking a closer look at Qaddafi's long-standing ties and investments in Austria.
As Qaddafi continues to cling to power, Washington, Bern and Brussels have initiated a hunt for his assets, freezing accounts were they can. To date, Qaddafi’s U.S assets and his ownership stakes in such renowned Italian brands as Fiat, ENI or Juventus of Turin have been making headline news. But his ties to another country, Austria, are often overlooked.
Austria houses massive amounts of Qaddafi’s assets (Some sources suggest as much as $40.5bn). It was also home to Qaddafi’s son, Saif, throughout the 1990’s. During these years Saif al-Islam Qaddafi not only resided in the most exclusive enclaves of Vienna but was also close to the now-dead populist politician, Joerg Haider. Haider seemed to hold an affection for despotic Arabic leaders, visiting Saddam Hussein (in 2002, prior to the U.S invasion).
During his time in Austria, Saif was seen as the liberal beacon of the Qaddafi family, someone who would down the line implement the “tools” of political reform he was believed to have studied at IMADEC (a private Viennese university). And at the London School of Economics. Many were hopeful that the son would one day succeed his father and bring an end to the revolutionary populism of Qaddafi.
Many Austrians seem to have been blinded by Saif’s white villas and party escapades, which suggested a “western” mentality rather than a Sharia abiding solemn Muslim. Saif back in 2006 outlined to an Austrian newspaper, Die Presse, the path he would implement when in power: he promised a “real parliament accompanied by a free media and freedom of expression…”
As Council on Foreign Relations Senior Fellow Steven Cook recently pointed out we tend to make the mistake of presuming that the sons of dictators when educated abroad will return home enlightened and willing to break with their family’s rule. To many, Seif’s LSE doctorate and dissertation suggested progressive sentiments. In the end, though Cook notes: “observers have often been too quick to seize on superficial attributes.”
As Austrian authorities try to evaluate the real scope of Qaddafi’s assets one man has been repeatedly mentioned: Mustafa Zarti. Zarti and Saif first met during Saif’s graduate studies at IMADEC in Vienna. According to sources close to the matter. Zarti quickly rose to become Saif’s asset manager, apparently diverting the wealth of the Qaddafi clan into anonymous foundations situated in Austria and Liechtenstein. At the moment, we can only speculate as to Zarti’s involvement in the whole matter. Despite the crackdown on the Qaddafi clan, Zarti continues to hold Austrian citizenship, being able to enter and exit the Austrian state.
Tweet