MOSCOW (Pakistan Point News / Sputnik - 28th May, 2020) Economic losses resulting from the blockade of Libyan ports used by the National Oil Corporation (NOC) have reached about $5 billion, the NOC reports.
In January, the NOC announced an emergency due to its inability to ship oil from Libyan ports. According to the NOC, the shipping was stopped after a relevant order of the Libyan National Army's (LNA) commander Khalifa Haftar. In late March, the NOC said that the losses from the blockade had surpassed $3.8 billion.
"The total losses from the current lockdown amount to $4,943,976,768, which cannot be compensated with the reserves," the NOC said on Twitter on Thursday.
The company added that these losses were a serious blow to the national economy.
Tensions between Libya's rival power structures, the UN-backed Government of National Accord (GNA), and the LNA escalated last year when the latter launched an operation to retake the GNA-held capital of Tripoli. Currently, the GNA is carrying out a counteroffensive against the Haftar-led forces.
