A renewed struggle this summer over Libya’s main oil export zone cut sales in half, squeezing hard currency supplies amid outcry about mismanagement of hydrocarbon revenues.
To build trust, Libyan and international actors should review public spending and move toward unifying divided financial institutions.
Fighting in June in Libya’s “oil crescent”, a coastal area home to most of its oil export terminals, led to a brief military takeover of oil installations and, subsequently, an attempt to deepen the institutional schism between the internationally recognised government in Tripoli and its eastern rival.
Why does it matter?
These scuffles halved…