On Monday, Libya’s state National Oil Corporation (NOC), announced that the shutdown of oil fields and ports has caused losses of more than 9.5 billion US dollars.

The NOC stated that the blockade, which has been going on for the last 234 days, will affect the financial arrangements and salary provisions for the financial year 2020-2021.

On Friday, the NOC welcomed proposals from Parliament Speaker, Ageela Saleh, and the Prime Minister of the Government of National Accord (GNA), Fayez Al-Sarraj, to lift a seven-month oil blockade. 

The two also proposed placing revenues in an independent bank account, until a political solution is reached.