Al-Darija: “Freezing oil revenues is better than closing oil, which will not be accepted internationally, nor will the continuation of transferring oil money to the government”
The Economist Mohsen Al-Darija said that freezing oil revenues in the account of the National Oil Corporation is better than closing oil and better than freezing it in an account outside Libya, adding that in light of the current oil prices, closing oil will not be accepted internationally, as well as the continued transfer of oil revenues to the account of the government.
Al-Darija stressed that selling oil and keeping its money in the account of the National Oil Corporation was the least harmful option than closing the oil, noting that the pressures on the institution and temptations with a huge budget made it surrender what was in its accounts, and closing the oil became the other alternative that entered into implementation.
The former head of the Libyan Investment Authority stressed the need to think after the refreezing of funds and the flow of oil in a mechanism to use funds transparently and for purposes that serve the people.