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.



Lebanon’s President Reveals the Country’s Stance on Relations with Israel

 Lebanese President Joseph Aoun looks on during a meeting with Cyprus' President Nikos Christodoulides at the Presidential Palace in the capital Nicosia, Cyprus, Wednesday, July 9, 2025. (AP)
Lebanese President Joseph Aoun looks on during a meeting with Cyprus' President Nikos Christodoulides at the Presidential Palace in the capital Nicosia, Cyprus, Wednesday, July 9, 2025. (AP)
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Lebanon’s President Reveals the Country’s Stance on Relations with Israel

 Lebanese President Joseph Aoun looks on during a meeting with Cyprus' President Nikos Christodoulides at the Presidential Palace in the capital Nicosia, Cyprus, Wednesday, July 9, 2025. (AP)
Lebanese President Joseph Aoun looks on during a meeting with Cyprus' President Nikos Christodoulides at the Presidential Palace in the capital Nicosia, Cyprus, Wednesday, July 9, 2025. (AP)

Lebanon has no plans to have normal relations with Israel at the present time, and Beirut’s main aim is to reach a “state of no war” with its southern neighbor, the country’s president said Friday.

President Joseph Aoun’s comments came as the Trump administration is trying to expand the Abraham Accords signed in 2020 in which Israel signed historic pacts with United Arab Emirates and Bahrain.

In May, Syrian President Ahmed al-Sharaa said during a visit to France that his country is holding indirect talks with Israel to prevent military activities along their border from going out of control. Talks about peace between Israel and Syria have increased following the ouster of President Bashar al-Assad from power in December.

Aoun added in comments released by his office that only the Lebanese state will have weapons in the future, and the decision on whether Lebanon would go to war or not would be for the Lebanese government.

Aoun’s comments were an apparent reference to the armed Hezbollah group that fought a 14-month war with Israel, during which it suffered major blows including the killing of some of its top political and military commanders.

Hezbollah says it has ended its armed presence near the border with Israel, but is refusing to disarm in the rest of Lebanon before Israel withdraws from five overlooking border points and ends its almost daily airstrikes on Lebanon.

Earlier this week, US envoy Tom Barrack met with Lebanese leaders in Beirut, saying he was satisfied with the Lebanese government’s response to a proposal to disarm Hezbollah.

Hezbollah’s weapons have been one of the principal sticking points since Israel withdrew from southern Lebanon in 2000. Since then, Hezbollah fought two wars with Israel, one in 2006, and the other starting a day after the Hamas-led attack on southern Israel on Oct. 7, 2023, which triggered the war in Gaza.

The Hezbollah-Israel war, which ended with a US-brokered ceasefire in November, left more than 4,000 people dead in Lebanon and caused destruction estimated at $11 billion. In Israel, 127 people, including 80 soldiers, were killed during the war.

“Peace is the state of no war and this is what is important for us in Lebanon at the present time,” Aoun was quoted as telling visitors on Friday. He added that “the matter of normalization (with Israel) is not included in Lebanon’s current foreign policy.”

Lebanon and Israel have been at a state of war since 1948.