The head of the Association of Oil Companies, Oscar Yammine, announced that “the Banque du Liban has given approvals to unload 7 oil vessels,” noting that the unloading process began yesterday.
Yammine also confirmed that the process of unloading the ships “will continue until the end of next week, in quantities sufficient for the market for about two weeks,” adding: “There is no need to panic and market incorrect news.”
Yesterday, sources revealed to “Voice of Lebanon” radio that the Central Bank refused to open credits for oil ships off the Lebanese coast and for ships coming this week and next.
Lebanon is witnessing the worst economic crisis in its modern history, the severity of which intensified after the explosion of the port of Beirut in August last year, as the Lebanese pound was circulating freely in banks, stores and other places at 1500 against the dollar before the economy hit a debt crisis in late 2019 and made the dollar exchange rate Against the lira, it is multiplied by about ten times.
Source: “Newsletter” + RT