Osama's assets frozen

By Sridhar Krishnaswami

WASHINGTON, SEPT. 24. To choke the financial lifeline of the Saudi dissident, Osama bin Laden, and his Al Qaeda network, the Bush administration has frozen his assets and instructed the Treasury department to take stringent action against foreign establishments having any connection with the entity.

The U.S. President, Mr. George W. Bush, issued an executive order on the freeze this morning. The order also barred transactions with persons or groups suspected of committing terrorist acts. As many as 27 entities and individuals, including three non- governmental organisations, have been identified.

Harkat too on the list

Besides the Al Qaeda or the Islamic Army, the order involves the Pakistan-based Harkat-ul-Mujahideen, the Abu Sayyaf group, the Egyptian Islamic Jihad and the Islamic Army of Aden. And heading the list of specific individuals is Osama.

At the Rose Garden, flanked by the Secretary of State, Gen. Colin Powell, and the Treasury Secretary, Mr. Paul O'Neill, Mr. Bush said his order included terrorist organisations, individual terrorist leaders, a corporation that serves as a front for terrorism and non-profit organisations.

``Just to show you how insidious these terrorists are, they often times use nice sounding non-governmental organisations as fronts for their activities,'' Mr. Bush said, stressing that if banks, financial institutions and nations around the world did not cooperate in the crackdown, the U.S. would take severe action.

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