The United Nations announced on Monday that Libyan officials are allowing a long-sought external audit of the country’s Central Bank to go ahead, a breakthrough that could pave the way for an end to a crippling oil blockade.
The audit approval follows months of international pressure. Earlier in July, the U.S. Embassy in Libya denounced “the illegal obstruction of the long-overdue audit,” and threatened sanctions against “those who undermine Libya’s economy.”
The U.N. Mission in Libya welcomed the international financial review as a “critical step” toward improving transparency and accountability in Libya’s financial system.