Libya to cut economic ties with Swiss in protest

Libya will withdraw $7 billion of assets in Swiss banks, cut economic ties with Switzerland and stop supplying it with oil to protest against poor treatment of Libyan diplomats and businessmen, Libyan news agency JANA said.

The decision comes three months after a diplomatic row broke out when a son of Libyan leader Muammar Gaddafi was arrested in Geneva and charged with mistreating two domestic employees.

Hannibal Gaddafi denied the charges and was freed on bail, but the case caused uproar in Tripoli and led to the detention of two Swiss nationals, who were later released.