The unrecognized government’s head, Osama Hammad, announced on Tuesday the suspension of Libya’s oil exports. This move responds to recent attacks and kidnappings targeting employees of the Central Bank of Libya (CBL). The announcement comes at a time of heightened tensions, marked by ongoing power struggles between Libya’s two rival governments. On one side is the UN-recognized government based in Tripoli, and on the other, the government in the east supported by warlord Gen Khalifa Haftar (JURIST).
The CBL had previously halted its operations following the abduction of several employees by unidentified assailants, including notable figures such as Musab Msallem, the director of the Information Technology Department, and Rasim al-Najjar, the director of the governor’s office (JURIST). These incidents have amplified concerns about the security of Libya’s banking sector, with the CBL indicating that extrajudicial activities represent a significant threat to the nation’s economic stability.
Hammad explicitly condemned efforts to replace Seddik Al-Kaber, the current governor of the CBL, and blamed the Presidential Council for the kidnappings. The Presidential Council operates as Libya’s head of state under the UN-brokered Libyan Political Agreement of 2015. Al-Kaber faces accusations of mismanaging Libya’s oil revenues and other state funds. Amid these escalating tensions, the Central Bank’s Board of Directors, appointed by the Presidential Council, declared on its Facebook page that it had fully taken over management duties.
In light of these developments, the United Nations Support Mission on the Central Bank of Libya Crisis has called for a de-escalation and the resumption of oil exports to mitigate the impact on the nation’s economy.