Libya's National Oil Corporation resumes operations amid international support

Libya's National Oil Corporation resumes operations amid international support
Geopolitics
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Evyenia Sidereas, Deputy Chief of Mission | U.S. Embassy in Egypt

The governments of the United States, France, Italy, and the United Kingdom have jointly issued a statement welcoming the resumption of operations by Libya's National Oil Corporation. This move is seen as crucial for the country's economic stability and prosperity. The statement acknowledges the corporation's efforts in repairing infrastructure and fulfilling contractual obligations, following the lifting of emergency provisions in eastern Libya.

"We commend the legitimate National Oil Corporation as it repairs infrastructure, honors its contractual obligations, and, having lifted the state of emergency provisions in eastern Libya, restores oil exports and production critical to Libya’s prosperity," said representatives from the four nations. They also recognized contributions from the Libyan National Army (LNA) towards stabilizing Libya's oil sector.

Emphasizing that Libya's oil resources should benefit all Libyans, the statement reiterates that these resources must remain under "the exclusive control of the legitimate National Oil Corporation and the sole oversight of the Government of National Accord (GNA)," in line with UN Security Council Resolutions 2259 (2015), 2278 (2016), and 2362 (2017).

The joint statement urges Libyan stakeholders to engage in discussions aimed at enhancing fiscal transparency and strengthening economic institutions. It highlights a proposal from the President of the Presidency Council for increased transparency within Libyan economic institutions. Additionally, there is a call for resolving differences regarding the Central Bank of Libya and unifying financial institutions.

The four governments express their support for an inclusive political process in Libya that could lead to national elections. They pledge to assist Libyan leaders in these endeavors and to hold accountable those who threaten Libya's peace and security.

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