The Russian Foreign Ministry denied what it claimed were American lies, which accuse the Russian state owned Goznak Company of printing false Libyan currency for the benefit of the parallel government in the east of Libya.

The currency, which was worth in excess of $1 billion, was printed in Moscow; however the Maltese authorities managed to seize the shipment, which was en-route to Tobruk.

The US State department said on Friday that it commended Malta for its role in the seizure of what it described as ‘counterfeit Libyan Currency’, prompting the Russian Foreign Ministry to defend the state owned Goznak Company, claiming that according to a printing contract signed in 2015, the deal was approved by the House of Representatives in Tobruk.

Economy