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Libya seeks to keep oil revenues abroad

by ChemOrbis Editorial Team -
  • 07/04/2015 (11:11)
According to media sources, Libya’s internationally recognized government plans to open a bank account abroad to hold their oil revenues. Prime Minister Abdullah al-Thinni’s decision authorized his government’s National Oil Corporation to open an account in the United Arab Emirates.

This way, the government aims to redirect profit from the industry away from the rival government in Tripoli.

In Libya, crude oil revenues are playing a central role in a conflict between the country’s two rival governments and their respective armed forces.
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