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Corinthia Hotel in London Awaits for Approval Due to Libyan Ownership

News Governments of many countries apply economic sanctions against the properties and funds that belong to the government of Libya. This has touched Corinthia hotel in London that should be opened in the nearest future. As this property is partially owned by the Libyan investor, it now needs to get an approval from the UK government in order to open.

35% of the hotel is owned by Arab Foreign Investment Co. This company is controlled by the Libyan state, so the hotel is subject to sanctions from the side of the United States and the European Union. The 294-key luxurious hotel in London is scheduled for opening in the end of this month, however, to do this it must get the permission. UK government has assured that the hotel will be allowed to operate normally.

The rest of the hotel is owned by Nakheel Hotel and International Hotel Investments. Corinthia Hotel London should be opened already in the end of March. According to The Guardian the delay is not caused by the economic sanctions.

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