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.



Lebanese PM Designate Says he is Against Exclusion

Lebanese Prime Minister-designate Nawaf Salam speaks to journalists after his meeting with Lebanese President Joseph Aoun at the presidential palace in Baabda, east of Beirut, Lebanon, Tuesday, Jan. 14, 2025. (AP Photo/Hassan Ammar)
Lebanese Prime Minister-designate Nawaf Salam speaks to journalists after his meeting with Lebanese President Joseph Aoun at the presidential palace in Baabda, east of Beirut, Lebanon, Tuesday, Jan. 14, 2025. (AP Photo/Hassan Ammar)
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Lebanese PM Designate Says he is Against Exclusion

Lebanese Prime Minister-designate Nawaf Salam speaks to journalists after his meeting with Lebanese President Joseph Aoun at the presidential palace in Baabda, east of Beirut, Lebanon, Tuesday, Jan. 14, 2025. (AP Photo/Hassan Ammar)
Lebanese Prime Minister-designate Nawaf Salam speaks to journalists after his meeting with Lebanese President Joseph Aoun at the presidential palace in Baabda, east of Beirut, Lebanon, Tuesday, Jan. 14, 2025. (AP Photo/Hassan Ammar)

Lebanon's Prime Minister-designate Nawaf Salam said on Tuesday that his hands are extended to everyone, saying he was opposed "to exclusion" a day after Hezbollah accused opponents of seeking to exclude it by nominating him.

Salam said he was against exclusion and on the contrary supported unity. "This is my sincere call, and my hands are extended to everyone," he said at Baabda presidential palace.

Salam spoke after meeting President Joseph Aoun and Speaker Nabih Berri.

Aoun has asked Salam to form the country’s new government after he was named prime minister by a large number of legislators Monday. The move apparently angered Hezbollah and its allies.

In past years, Hezbollah has repeatedly blocked Salam from becoming prime minister.

“We will see their acts when it comes to forcing the occupiers to leave our country, bringing back prisoners, reconstruction” and the implementation of the UN Security Council resolution that ended the Israel-Hezbollah war, the head of Hezbollah’s parliamentary bloc, Mohammed Raad, said after meeting with Aoun on Monday.

But Salam said: "Reconstruction isn't just a promise, but a commitment, and this requires complete implementation of UN Resolution 1701, implementation of all articles of the ceasefire, and imposing the full withdrawal of the Israeli enemy from every inch" of Lebanon.

He stated that he would work for justice for the victims of the 2020 Beirut port explosion, and for depositors whose savings have been frozen inside the Lebanese financial system since its collapse in 2019.

"It is time to begin a new chapter, one that we want to be rooted in justice, security, progress, and opportunity," Salam added.