Libyan political analyst Moatasem Al-Shaari stated that Iran is a major oil-exporting nation. Any war targeting Iran would directly impact global oil prices. He suggested military escalation would likely raise the price of an oil barrel. These indicators have already appeared since the war began. Al-Shaari made this statement to Sputnik Agency.
Higher Revenues for Libya, Theoretically
Al-Shaari explained that higher oil prices could theoretically benefit Libya. The Libyan economy primarily relies on oil revenues. Increased crude prices would boost general revenues. This would provide additional financial resources. These resources could support the national economy.
Improvement Does Not Reach Citizens
He noted that this revenue improvement might not necessarily impact Libyan citizens’ lives. This is due to “widespread corruption.” Effective economic policies are also absent. Political bodies continue excessive spending patterns. They do not focus on real development projects.
Lack of Planning and Monetary Policy
He added that a lack of sound economic planning prevents real benefits from any oil price rise. He affirmed that the current monetary policy does not support the Libyan Dinar’s stability. It also does not enhance its value. The policy lacks effective tools to protect the local currency from decline. He views political division as an additional obstacle. This prevents Libya from benefiting from positive international economic changes.
Indirect Repercussions and Warning Against Continued Escalation
Al-Shaari ruled out direct and immediate repercussions of the conflict on Libya at present. He warned that continued regional escalation could lead to indirect impacts. This includes impacts on countries in the region, including Libya. This is due to international and regional competition for influence and strategic interests.
Call to Unite Ranks and Hold Elections
He called on Libyan political parties to recognize the seriousness of the current stage. They should work to unite their ranks. They must overcome political division. He warned that continued disputes could open the door to further foreign interventions. This threatens the country’s stability. Finally, he stressed the importance of forming a unified government. Moving towards presidential and parliamentary elections is essential. This is a key step to enhance stability. It will empower Libya to face regional and international challenges.