Libya says oil blockade has cost $5 billion in lost revenue
The Tripoli-based National Oil Corporation said the closure of oil facilities in January has led to billions in losses.
Libya has lost nearly $5 billion in revenue due to a months-long oil blockade imposed by eastern-based forces, the country's national oil company said Thursday.
For the past year, warlord Khalifa Hifter and his self-styled Libyan National Army have been fighting the internationally recognized Government of National Accord (GNA) for control of the capital, Tripoli.
In January, eastern tribesmen loyal to Hifter closed down several major oil ports and fields, accusing the UN-backed government of using oil sales to pay for mercenaries coming from abroad. By April, oil exports were down by 92%.
In a statement Thursday, the Tripoli-based National Oil Corporation said the drop in exports led to billions in lost revenue that would have helped pay for state expenses during the pandemic. It called for the continuation of oil production and exports "to support the national economy and protect it from consequences of bankruptcy and dependence on foreign banks."
