Malta seizes $1 billion in counterfeit Libyan money

VALLETTA: Maltese authorities have seized counterfeit Libyan money worth $1.1 billion that was printed by a Russian firm and worsen the north African country´s economic problems, the US State Department said.

There was no official statement on Saturday from Valletta although Malta Today newspaper had published a report about $1.1 billion in counterfeit money seized in Malta on its Facebook site that was no longer available.

"The United States commends the Government of the Republic of Malta´s announcement May 26 of its seizure of $1.1 billion of counterfeit Libyan currency printed by Joint Stock Company Goznak -- a Russian state-owned company -- and ordered by an illegitimate parallel entity," the State Department said.