UPDATE 1-Italy says end of Gaddafi rule is inevitable
* Italy's Frattini says point of no return reached in Libya
* Welcomes U.N. sanctions, says no-fly zone an option
(adds quotes, background)
By Silvia Aloisi
ROME, Feb 27 (Reuters) - The end of Libyan leader Muammar Gaddafi's rule is "inevitable", the foreign minister of Italy, his closest European ally, said on Sunday.
Foreign Minister Franco Frattini also said a friendship and cooperation treaty between Libya and Italy was "de facto suspended".
"We have reached, I believe, a point of no return," Frattini told Sky Italia television. Asked whether Gaddafi should leave power, he said: "It is inevitable for this to happen.
Frattini said a U.N. Security Council resolution imposing sanctions in the form of travel bans and asset freezes on Gaddafi and his family was an important turning point. Continued...