The German Economic Ministry said on Thursday it was freezing the accounts of the Libyan Central Bank and 13 other state-run agencies.
About 6,000 people are thought to have been killed in fighting in Libya since the first protests demanding the end of the country's leader Muammar Gaddafi's 42-year authoritarian rule began on February 14.
"The measures are in a line with other measures the ministry adopted on March 1 on halting the work of the accounts," the ministry said in a statement.
EU member states agreed on Tuesday to extend sanctions on Libya to include a number of financial institutions, including the Libyan Investment Authority (a $70 billion sovereign wealth fund) and the Libyan Central Bank. The leaders of the 27 member states will confirm the measure on Friday.
Russian President Dmitry Medvedev signed a decree on Thursday to join UN Security sanctions against Libya, banning the supply of arms, ammunition and military equipment to the North African state, where fighting between rebels and forces loyal to Gaddafi is in its third week.
The EU has already imposed a range of sanctions on Gaddafi and his immediate family, and other members of the Libyan leadership. It has also imposed an arms embargo and travel bans on the country.
BERLIN, March 10 (RIA Novosti)