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Head of Libya’s unrecognized government Osama Hammad announced on Tuesday the suspension of the country’s oil exports in response to attacks and kidnappings of employees of the Central Bank of Libya (CBL) amidst a broader struggle for control between rival factions.
The country has been divided by power struggles and currently has two rival governments—a UN-recognized one based in Tripoli and another in the country’s east backed by warlord Gen Khalifa Haftar. The announced oilfield shutdown comes as part of an ongoing dispute between the eastern government and the UN-recognised government based in Tripoli regarding the leadership of the CBL.
The Central Bank of Libya had previously suspended its operations after several employees were abducted by unidentified parties. Among those kidnapped were Musab Msallem, the director of the Information Technology Department, and Rasim al-Najjar, director of the governor’s office. The abductions have raised concerns about the safety of the banking sector, with the CBL warning that such extrajudicial actions pose a serious threat to Libya’s economic stability.
Hammad condemned the attempts to replace Seddik Al-Kaber, the governor of the CBL, and attributed the kidnapping to the Presidential Council, which functions as Libya’s head of state under the UN-brokered Libyan Political Agreement of 2015. Al-Kaber has been accused of mismanaging Libya’s oil resources and state funds.
Furthermore, on Monday, the Central Bank also announced on its official Facebook page that its Board of Directors, appointed by the Presidential Council, had fully assumed management duties.
The United Nations Support Mission on the Central Bank of Libya Crisis called for halting any escalations and lifting the suspension of oil exports.
The post Unrecognized Libya government suspends oil exports amid power struggle over Central Bank leadership appeared first on JURIST - News.
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The country has been divided by power struggles and currently has two rival governments—a UN-recognized one based in Tripoli and another in the country’s east backed by warlord Gen Khalifa Haftar. The announced oilfield shutdown comes as part of an ongoing dispute between the eastern government and the UN-recognised government based in Tripoli regarding the leadership of the CBL.
The Central Bank of Libya had previously suspended its operations after several employees were abducted by unidentified parties. Among those kidnapped were Musab Msallem, the director of the Information Technology Department, and Rasim al-Najjar, director of the governor’s office. The abductions have raised concerns about the safety of the banking sector, with the CBL warning that such extrajudicial actions pose a serious threat to Libya’s economic stability.
Hammad condemned the attempts to replace Seddik Al-Kaber, the governor of the CBL, and attributed the kidnapping to the Presidential Council, which functions as Libya’s head of state under the UN-brokered Libyan Political Agreement of 2015. Al-Kaber has been accused of mismanaging Libya’s oil resources and state funds.
Furthermore, on Monday, the Central Bank also announced on its official Facebook page that its Board of Directors, appointed by the Presidential Council, had fully assumed management duties.
The United Nations Support Mission on the Central Bank of Libya Crisis called for halting any escalations and lifting the suspension of oil exports.
The post Unrecognized Libya government suspends oil exports amid power struggle over Central Bank leadership appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.