Libya’s Haftar sets August deadline for ‘fair’ distribution of oil revenues

By Moataz Wanis

TRIPOLI, Libya (AA) - East Libya-based strongman Khalifa Haftar has set an end-of August deadline for forming a committee for the fair distribution of oil revenues.

Speaking during a meeting with his officers in the eastern city of Benghazi on Monday, Haftar accused the Tripoli-based central bank of "committing financial crimes."

“Reports of the Audit and Administrative Control Bureau for the year 2021-2022 showed that more than 200 billion dinars ($41.6 billion) had been tampered with,” he said.

Haftar said East Libya-based authorities had received hundreds of requests from different regions in Libya for forming a higher committee for the fair distribution of revenues, threatening military action unless revenues are divided fairly.

“The worsening economic situation requires practical steps to distribute oil revenues fairly,” he said. “The deadline for forming this committee will be no later than the end of August.”

There was no comment from the central bank or the Tripoli-based administration on Haftar’s statements.

Libya holds Africa’s largest crude reserves and oil revenues, the country’s main source of income, has been a subject of dispute between its warring rivals.

The revenues are managed by the National Oil Company and the Central Bank, based in Tripoli.

Libya’s oil revenues rose to $22.01 billion in 2022.

Last week, Oussama Hamad, who heads the eastern administration, threatened to block oil and gas exports from areas under its control, accusing the Tripoli-based government of wasting oil revenues.

Libya has been torn by civil war and instability since the ouster of longtime ruler Muammar Gaddafi in 2011.

*Writing by Ikram Kouachi in Ankara