Monday, June 23, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

US Urges Libya’s Central Bank To Protect Oil Revenues

April 22, 2022
Share on FacebookShare on Twitter

On Wednesday, US Ambassador to Libya, Richard Norland said that Washington shared Libya’s concerns that oil funds can be diverted to support partisan political purposes, or undermine Libya’s peace and security.

This came during a meeting with the Central Bank of Libya’s (CBL) Governor, Al-Siddiq Al-Kabir in the Presence of the US Treasury’s Deputy Assistant Secretary, Eric Meyer.

The US Embassy stated that the US officials urged the CBL to safeguard Libya’s oil revenue from misappropriation to rebuild confidence in the institution, and contribute to stability.

“They also reviewed joint efforts to enhance transparency at the CBL, especially in public spending, as Ambassador Norland underlined that it is critical to provide financial support for the National Oil Corporation’s (NOC) operations,” the statement said.

“Discussions continue in an effort to reach broad agreement on other government expenditures. Norland also expressed concern about the shutdown of half of Libya’s oil production,” it added.

The US Ambassador said that forced and prolonged disruptions to oil production, “create adverse conditions for the Libyan people, including power outages, water supply issues, fuel shortages, and damage to oil infrastructure.”

“All of this are threatening the future of Libya’s energy sector and its ability to continue generating revenue for the benefit of the people,” Norland explained.

“Especially during the holy month of Ramadan, the Libyan people deserve regular, timely payment of salaries and subsidies to cope with rising prices as a result of Russia’s unprovoked war on Ukraine, and they deserve reliable public services,” he concluded.

Notably, the Libyan Government of National Unity (GNU), headed by Abdel-Hamid Dbaiba has contracted with a lobbying group in the United States, to support its vision for the transitional period and elections. As well as to facilitate talks with the Biden White House.

  • US Ambassador Stresses Need to Hold Elections in Libya
  • US-Egypt Discuss Latest Developments in Libya
  • US Proposes Managing Libya’s Oil Revenues to Ease Crisis
  • US Confirms Support for Holding Libya’s December Elections
  • US Ambassador to Libya: Libya Needs Elections in December 2021
Tags: Central BanklibyaOil RevenuesRichard norlandunited statesusUS ambassador
Next Post

Libyan Oil Minister: NOC Chairman Sanallah Has Failed To Abide By The Law

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Berlin Conference Reaffirms Support for Libyan-Led Political Process

Libya & Italy Sign Military Cooperation Plan

Libya’s Interior Ministry Reports Armed Attack on Security Forces in Tripoli

73% of Libyan Women Journalists Report Online Violence

Libyan PM & Belgasem Haftar Inaugurate Derna Park

Can Mass Protests Force Political Change in Libya?

EDITOR PICKS

128,000 Students Begin Final High School Exams Across Libya

Libya Launches New Electoral Education Initiative

Libya’s Haftar & British Envoy Discuss Political Developments

Libya’s Kufra Hosts 160,000 Sudanese Refugees

UN Reviews Development & Refugee Support Programs in Libya

Libya & Greece to Discuss Maritime Dispute in July

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR