The damage the shutdown is causing to oil infrastructure will cost Libya additional millions, risks an environmental disaster, and could impact the country’s ability to utilize this infrastructure in the future to reach its full production potential.”Actually, Libya loses about half of its daily oil production because of the closure of oil fields and ports. “The United States considers the shutdown of Libyan oil production to be a hasty response that hurts the Libyan people and undermines international confidence in Libya as a responsible actor in the global economy,” the statement added. “Prior to the shutdown, the United States had recommended an incremental transfer of revenue subject to monitoring and oversight by a Libyan-led financial mechanism; however, Libyan leaders independently decided to make more substantial transfers,” the statement recalled. We discussed efforts to hold timely and transparent elections and to establish economic and political security,” Bashagha wrote on his Twitter account. “Collaboration and partnership with our allies will be essential as we move Libya forward”, he added.

Source: Libya Today April 28, 2022 16:38 UTC