Sanctions vs. Oil EU's Libya Sanctions Unlikely to Wobble Regime

The UN and EU have applied additional financial sanctions against Libya, but questions remain over how effective they can actually be. Gadhafi has an estimated $160 billion cash reserves that remain mostly untouched. And the oil industry, where they could hurt the most, remains off limits. By SPIEGEL Staff
A rebel sits with an anti-aircraft weapon in front of a refinery in the oil town of Ras Lanouf: Europe wants to pressurize Libyan leader Gadhafi, but it continues to buy his oil.

A rebel sits with an anti-aircraft weapon in front of a refinery in the oil town of Ras Lanouf: Europe wants to pressurize Libyan leader Gadhafi, but it continues to buy his oil.

Hussein Malla/ AP