Cash-strapped Lebanon hails strategic 'oil gift' from Iran

By Naim Burjawi

BEIRUT, Lebanon (AA) - Lebanese Energy Minister Walid Fayyad on Saturday said an Iranian fuel gift is of strategic importance as it will allow increasing electricity supply in Lebanon.

Fayyad met with Iranian Ambassador in Beirut Mujtaba Amani for talks on acquiring free fuel from Iran to ease power outages in Lebanon.

The meeting was attended by a Lebanese government delegation that will travel to Tehran for talks on fuel delivery.

According to a statement issued by the Lebanese Ministry of Energy, the Iranian envoy said Tehran is ready to support Lebanon to build power plants.

In July, Hezbollah Secretary-General Hassan Nasrallah unveiled an initiative to bring Iranian fuel to Lebanon’s power plants if the Lebanese government approves the move.

Lebanon has been grappling with a severe economic crisis since late 2019, including massive currency depreciation and fuel and medical shortages.

Lebanon also suffers from a severe shortage of electricity supply due to insufficient fuel needed for power generation, in addition to a sharp rise in the prices of derivatives due to the collapse of the lira, and the lack of foreign exchange needed for imports.

*Writing by Ahmed Asmar in Ankara