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On August 18, the central bank said it was ‘suspending all operations’ after the abduction of the bank’s head of information technology read more
 "Libya's tensions escalate as eastern administration suspends oil production")
A view shows Sharara oil field near Ubari, Libya. Reuters
Libya’s eastern-based administration said Monday it was shutting down oil fields it controls and suspending production amid rising tensions with the UN-recognised government based in Tripoli.
A statement by the Benghazi-based administration posted on X said it was “suspending all oil production and exports until further notice”, citing “force majeure”.
It linked the move to “repeated attacks on the leaders, employees and administrations of the Central Bank” based in Tripoli, which manages Libya’s large oil resources and the state budget.
The eastern-based administration said “outlaw groups” were responsible in a bid to control “Libya’s most important financial institution”, the statement added.
On August 18, the central bank said it was “suspending all operations” after the abduction of the bank’s head of information technology.
The IT chief was released on Monday and the central bank said it was resuming operations.
Local media had said that armed men had besieged the bank a week earlier to force the resignation of its governor, Seddik al-Kabir, who had faced criticism over the management of oil resources and the state budget.
In its statement on Monday, the eastern-based administration said that authorities in Tripoli had taken over the central bank and had announced Kabir’s resignation.
Footage broadcast by local media showed members of the presidential council, which is close to Prime Minister Abdulhamid Dbeibah, inside the bank’s headquarters.
Libya is still struggling to recover from years of conflict after the 2011 NATO-backed uprising that overthrew longtime dictator Moamer Kadhafi.
It remains divided between the UN-recognised government in the capital Tripoli led by Dbeibah, and the rival administration in the east backed by military strongman Khalifa Haftar.
Most of Libya’s oil fields are located in regions controlled by Haftar.
Declaring force majeure allows parties to free themselves from contractual obligations when factors such as fighting or natural disasters make meeting them impossible.
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English (US) ·