UN hosts talks in Tripoli to resolve Libya's central bank crisis

3/9/2024 7:12

        The United Nations Support Mission in Libya said it held talks in Tripoli on Monday to help resolve a central bank crisis that sparked a blockade of oil production and threatens the worst crisis in years for the major energy exporter.
        
        The standoff was triggered when Western factions moved this month to oust veteran governor Sadiq al-Kabir and replace him with a rival board, leading Eastern factions to shut down all oil production.
        
        Oil prices edged higher on Monday, recovering some losses from late last week, as Libyan oil exports remained halted and concerns about higher OPEC+ production from October eased.
        
        "Consultations concluded with significant understandings," UNSMIL added in a statement.