Libya Central Bank Governor: Oil Blockade is ‘Bullet in the Head’

FILE PHOTO: Members of forces loyal to Haftar guard near Libya's El Sharara oilfield in Obari,Libya, February 6, 2019. REUTERS/Stringer
FILE PHOTO: Members of forces loyal to Haftar guard near Libya's El Sharara oilfield in Obari,Libya, February 6, 2019. REUTERS/Stringer
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Libya Central Bank Governor: Oil Blockade is ‘Bullet in the Head’

FILE PHOTO: Members of forces loyal to Haftar guard near Libya's El Sharara oilfield in Obari,Libya, February 6, 2019. REUTERS/Stringer
FILE PHOTO: Members of forces loyal to Haftar guard near Libya's El Sharara oilfield in Obari,Libya, February 6, 2019. REUTERS/Stringer

A blockade of major Libyan oil ports is damaging the economy and must be quickly resolved, the Tripoli-based central bank governor told Reuters on Friday.

"Now oil represents 93-95 percent of total revenue and covers 70 percent of total spending. This is a bullet in the head, that will hurt Libya and the Libyan people," Sadiq al-Kabir said in an interview in London. "We really hope the crisis is resolved as fast as possible because it hurts everyone."

The head of the Government of National Accord, Fayez al-Sarraj, has warned of catastrophe if the week-long blockade by the Libyan National Army of Khalifa Haftar, which has cut oil output to almost zero, is not lifted.

Previously, oil production was 1.2 million barrels a day.



Israeli Missile Hits Gaza Children Collecting Water

A Palestinian woman reacts as a young man carries the body of her child killed in an Israeli strike, in front of Gaza City's Maamadani (Baptist) hospital on July 13, 2025. (Photo by Omar AL-QATTAA / AFP)
A Palestinian woman reacts as a young man carries the body of her child killed in an Israeli strike, in front of Gaza City's Maamadani (Baptist) hospital on July 13, 2025. (Photo by Omar AL-QATTAA / AFP)
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Israeli Missile Hits Gaza Children Collecting Water

A Palestinian woman reacts as a young man carries the body of her child killed in an Israeli strike, in front of Gaza City's Maamadani (Baptist) hospital on July 13, 2025. (Photo by Omar AL-QATTAA / AFP)
A Palestinian woman reacts as a young man carries the body of her child killed in an Israeli strike, in front of Gaza City's Maamadani (Baptist) hospital on July 13, 2025. (Photo by Omar AL-QATTAA / AFP)

At least eight Palestinians, most of them children, were killed and more than a dozen were wounded in central Gaza when they went to collect water on Sunday, local officials said.

The Israeli military said the missile had intended to hit an Islamic Jihad militant in the area but that a malfunction had caused it to fall "dozens of meters from the target".

"The IDF regrets any harm to uninvolved civilians," it said in a statement, adding that the incident was under review.

The strike hit a water distribution point in Nuseirat refugee camp, killing six children and injuring 17 others, said Ahmed Abu Saifan, an emergency physician at Al-Awda Hospital.

Water shortages in Gaza have worsened sharply in recent weeks, with fuel shortages causing desalination and sanitation facilities to close, making people dependent on collection centers where they can fill up their plastic containers.

Hours later, 12 people were killed by an Israeli strike on a market in Gaza City, including a prominent hospital consultant, Ahmad Qandil, Palestinian media reported. The Israeli military did not immediately comment on the attack.

Gaza's health ministry said on Sunday that more than 58,000 people had been killed since the start of the war between Israel and Hamas in October 2023, with 139 people added to the death toll over the past 24 hours.

Negotiations aimed at securing a ceasefire appeared to be deadlocked, with the two sides divided over the extent of an eventual Israeli withdrawal from the Palestinian enclave, Palestinian and Israeli sources said at the weekend.

Israeli Prime Minister Benjamin Netanyahu was set to convene ministers late on Sunday to discuss the latest developments in the talks, an Israeli official said.

The indirect talks over a US proposal for a 60-day ceasefire are being held in Doha, but optimism that surfaced last week of a looming deal has largely faded, with both sides accusing each other of intransigence.

Netanyahu in a video he posted on Telegram on Sunday said Israel would not back down from its core demands - releasing all the hostages still in Gaza, destroying Hamas and ensuring Gaza will never again be a threat to Israel.