The American Embassy in Libya confirms its support for the temporary freezing of oil revenues in the account of the Oil Corporation with the Libyan Foreign Bank.
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Tripoli, May 14, 2022 (LANA) - The US Embassy in Libya announced its support for the temporary freezing of oil revenues in the account of the National Oil Corporation with the Libyan Foreign Bank until an agreement is reached on a transparent revenue management mechanism.
The embassy confirmed - in a statement published on its official page on “Facebook”- that agreeing on a transparent management mechanism for oil revenues is necessary in order to achieve this, as discussed by the Libyan parties on the first of April at the meeting of the economic working group emanating from the Berlin process.
The statement called for the mechanism to include an agreement on priority expenditures, transparency measures, and steps to ensure oversight and accountability. Emphasizing that restoring Libyan oil production is important to the Libyan people and the global economy.
In its statement, the US embassy indicated that progress on these important issues would contribute to creating a more stable political environment, which would help restore momentum towards the parliamentary and presidential elections as requested by the Libyan people.
The embassy expressed the readiness of the United States of America to provide technical assistance at the request of the Libyan parties to assist in such a mechanism, according to the text of the statement.
... (LANA) ...