US Supports UN Bid to Resolve Libya Central Bank Dispute

Tue Aug 27 2024
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TRIPOLI: The United States on Tuesday gave its backing to the efforts of the United Nations to resolve differences between Libya’s rival administrations over the management of the central bank without cutting off crucial oil income.

The US embassy stated the move by the UN Support Mission in Libya offers a way forward to resolve the issue triggered by the eastern administration’s announcement on Monday that it was suspending operations at all oil fields.

The UNSMIL in a statement late Monday said it was “convening an emergency meeting for all parties involved” in the crisis.

It also stressed immediately lifting force majeure on oil fields and refraining from using Libya’s primary revenue source for political ends.

The north African state is struggling to recover from years of conflict after the 2011 NATO-backed uprising overthrew longtime dictator Muammar Qaddafi.

Libya remains divided between the UN-recognized government in Tripoli led by Prime Minister Abdulhamid Dbeibah, and the rival administration in the east supported by military man Khalifa Haftar.

Most of the oil fields of Libya are located in regions controlled by Haftar, but oil revenues and the state budget are managed by the Central Bank which is based in Tripoli.

Libya’s eastern-based administration on Monday, said it was closing down oil fields and terminals it controls in reaction to what it said were attempts by the western-based government to seize control of the Central Bank.

On August 18, the bank’s head of information technology was abducted and was released the same day.

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