The parallel government based in eastern Libya threatened on Saturday to suspend hydrocarbon exports – the country’s main source of income – accusing its rival, based in the capital Tripoli and recognized by the UN, of embezzling the money from the sales of oil.

The main terminals from which Libya’s oil is exported are located in the eastern part of the country, a vast area under the control of the parallel government, which is backed by Marshal Khalifa Haftar.

However, the revenues from oil exports are instead managed by the National Oil Company and the central bank based in Tripoli (west), where the government of Abdelhamid Dbayba, recognized by the United Nations, is located.

In a statement, a copy of which was obtained by Agence France-Presse, the transitional head of the parallel government, Osama Hamad, emphasizes that he is ready to block the export of oil and gas, claiming that the revenue managed by the rival be confiscated.

He is also threatening to take legal action to have a receiver appointed to handle the seized funds.

Referring to a report by the Libyan Administrative Control Authority, which is responsible for managing the state budget, he said that flagrant violations by the government of Mr. Dbaiba in terms of public funds have been proven, emphasizing wasting billions on things that are not a priority given the current state of the country.

Libya, the country with the largest oil reserves across Africa, is still plunged in chaos after the overthrow of Muammar Gaddafi’s regime in 2011 and continues to be plagued by clashes between authorities in its eastern and western parts.

Since then, the North African country’s oil terminals have been repeatedly blocked by authorities in the eastern regions, who are demanding their share of oil revenues, as well as armed groups demanding money or making political demands.

On May 16, the parliament based in the eastern part of the country ousted the previous head of the parallel government, Fathi Batsaga, and named Finance Minister, Osama Hamad, as interim Prime Minister.

With information from: APA MPA

Also read: Libya | Ongoing political impasse – The African Union initiative