The United Kingdom, acting as the penholder on the Libya file, has submitted a draft resolution to the UN Security Council aimed at tightening oversight on Libyan oil, including banning the deposit of export revenues outside the National Oil Corporation’s account at the Libyan Foreign Bank. The draft focuses on preventing the financing of parallel entities, unifying revenues, and expanding international sanctions to target those involved in oil smuggling. Key provisions include prohibiting the deposit of crude oil revenues outside official NOC accounts, and reaffirming that the National Oil Corporation is the sole entity responsible for marketing and exporting oil. The draft further addresses illegal exports by calling for the reporting of vessels engaged in unlawful oil shipments. This move follows recommendations by the UN Panel of Experts on Libya, with a vote on the draft resolution expected in mid-April 2026.

Source: Libya Observer April 09, 2026 19:00 UTC