Libya’s cumulative losses from the current oil blockade imposed by forces allied to Khalifa Haftar since January 19 have neared $5 billion, National Oil Corporation (NOC) said in a statement on Thursday.

  State-run NOC the cumulative losses as a result of the current blockades amounted to 4,943,976,768 USDWhich is impossible to compensate from the reserves, worth mentioned, the current status is considered very harmful to the economic future of the country, as this amount could cover part of the state’s expenses such as salaries, fuel subsidies, or the crisis of the Corona pandemic or other crisis, bearing in mind that this pandemic has consumed large oil states that already have a strong economy

The blockade caused an unprecedented decline in oil exports, and the country’s revenues are not enough to cover 10% of the salaries.

Moreover, the blockade resulted in severe damage to surface facilities, also oil migration from some reservoirs, and corrosion of crude transport lines.

“More than 800 leakage cases were detected, causing a lot of money and effort to repair, and the oil sector is still suffering from these effects daily, and it takes a long time for the National Oil Corporation to be able to raise production to satisfying levels,” NOC stated.