EU reiterates need to preserve oil revenues and institutions of Libya

EU reiterates need to preserve oil revenues and institutions of Libya

March 19, 2022 - 13:47
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Written By: SafaAlharathy

The EU Ambassador to Libya, Sabadell Jose, has reiterated the need to preserve Libya's oil revenues and the independence and impartiality of its institutions, including the Central Bank and the state-run oil company (NOC).

"In current exceptional circumstances, in Libya and globally, it is for Libyans to ensure that oil revenues continue and benefit all Libyans. An independent and well-resourced NOC and a unified Central Bank are indispensable, the EU official tweeted on Friday.

He described the meeting between the CBL and the Ministry of Finance with the co-chairs of the UN mission, the US embassy, and Egypt as very good.

Sabadell also expressed aspiration to work with all actors willing to play a constructive role based on dialogue and consensus.

He said the EU is looking forward to ensuring that the economy becomes an engine for peace and that oil income is managed for the benefit of all Libyans and preserved from corruption or mismanagement.