Libya – Libyan Minister of Economy and Trade Mohammed Al-Shibani confirmed that the government has begun a comprehensive review of all agreements concluded by the former regime with Russia. The review aims to ensure their compatibility with national interests and strengthen Libyan decision-making.
Al-Shaibani explained that the evaluation process covers the areas of energy, infrastructure, and military cooperation. He noted that some agreements were concluded under political and economic circumstances that no longer exist today.
The minister stressed that Libya seeks to establish balanced relations with all international partners. These relations must be based on mutual respect and mutual benefit.
He emphasized that the government will not hesitate to amend or renegotiate any agreement that does not serve the state’s interests. However, it will work to prevent the state from being burdened with unfair obligations.
He added that the next phase will witness a carefully considered economic openness, aimed at attracting foreign investment, stimulating the local market, and creating new job opportunities for young people.
