According to the UN Libya Mission, Libyan factions have not reached a definitive agreement regarding the central bank crisis

The UN Libya mission reported on Thursday that the negotiations between Libyan factions to resolve the central bank crisis, which has reduced oil output and exports, ended without a final deal.

Delegates from the Benghazi-based House of Representatives, the Tripoli-based Presidential Council, and the High Council of State convened for two days of crisis resolution talks, facilitated by UNSMIL.

On the other hand, the Presidential Council delegation’s attendance on the second day of the negotiations was not mentioned in the mission statement.

Before its president Mohammed al-Menfi moved in August to replace seasoned central bank Governor Sadiq al-Kabir, the Tripoli-based Presidential Council had only infrequently involved directly in Libyan politics. This action prompted eastern factions to urge a halt of oil flows across Libyan oilfields in protest.

This month, Libya’s two parliamentary houses decided to name the governor of the central bank jointly, which would diffuse a conflict over who would control the nation’s oil wealth.

The two legislative bodies’ agreement “on the principles and timeline that should govern the interim period leading to the appointment of a new governor and board of directors for the Central Bank” was welcomed by the Mission on Thursday.

According to Kpler data released on Wednesday, Libyan oil shipments decreased by around 81% last week due to cargo cancellations by the National Oil Corporation amidst a dispute over control of the country’s central bank and oil earnings.