Lebanese Central Bank Opens Credits For 47 Million Liters Of Diesel Fuel

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Hasan Shaaban/Bloomberg

The Central Bank of Lebanon (BDL) has agreed to open credits for two ships anchored in Lebanese waters, loaded with diesel fuel, at the exchange rate of 3,900 Lebanese pounds per U.S. dollar.

The ships carry a total of about 47 million liters of diesel fuel, which is enough to meet local demand for five to six days, according to LBCI.

The Central Bank also agreed to subsidize a gas shipment that is also expected to suffice for a few days.

On the other hand, the BDL refused to open credits for a gasoline shipment of 40 million liters needed by the local market.

In the context of subsidies, President Michel Aoun has handed Parliament a letter that addresses the BDL‘s recent decision to stop subsidizing fuel and essential commodities.

In light of that, Parliament Speaker Nabih Berri has called for a general session at the UNESCO Palace on Friday afternoon to read out President Aoun’s letter and take the relevant measures or decisions.

In the meantime, the efforts of the Lebanese Army and the Internal Security Forces to combat the monopolization of diesel fuel and gasoline continue.

Earlier on Tuesday, the army confiscated around 47,000 liters of diesel fuel between the towns of Adaisseh and Markabah in the Marjaayoun district.

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Lebanese Central Bank Opens Credits For 47 Million Liters Of Diesel Fuel

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