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Home Middle East

UN Welcomes Libya’s Oil Resumption & Central Bank Agreement

UN Welcomes Libya’s Oil Resumption & Central Bank Agreement

October 10, 2024
UN Welcomes Libya’s Oil Resumption & Central Bank Agreement

UN Security Council

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Members of the United Nations Security Council welcomed the agreement reached between Libyan parties regarding the Central Bank of Libya, which was approved by the House of Representatives and the High Council of State. In a statement, the Security Council members urged all Libyan parties to fully and swiftly implement the agreement, including appointing a new board of directors for the bank.

The Security Council also called for relevant institutions to take the necessary steps toward completing financial arrangements and preparing a unified budget to ensure the stability of Libya’s financial system and the well-being of all Libyans. They expressed concern over the impact of the ongoing crisis on Libyan citizens and the country’s financial and economic situation, emphasizing the importance of unifying state institutions.

The council encouraged all Libyan parties to engage constructively in addressing outstanding issues through comprehensive and meaningful dialogue to pave the way for the unification of all institutions. They also urged further commitment to a Libyan-led and owned political process that would lead to free, fair, transparent, and inclusive presidential and parliamentary elections across Libya as soon as possible.

The members renewed their call for Libyan actors and institutions to refrain from any unilateral actions that could escalate tensions, undermine trust, or exacerbate institutional divisions. They welcomed the resumption of oil production and stressed the need to depoliticize Libya’s oil resources, ensuring they are used for the prosperity and well-being of the Libyan people.

The Security Council members praised the efforts of the United Nations Support Mission in Libya (UNSMIL) for its constructive role in facilitating the agreement and encouraged continued support for its implementation. They emphasized the urgent need for the UN Secretary-General to appoint a new Special Representative for Libya. Additionally, the members expressed their readiness to support efforts aimed at advancing the political process, promoting peace, security, development, and human rights in Libya, while reaffirming their strong commitment to Libya’s sovereignty, independence, territorial integrity, and national unity.

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