The head of internal security in Lebanon spoke with Kuwaiti officials about his country’s desire to import petroleum products from Kuwait. To be effective, the desired partnership must receive the green light from the emir of the Gulf country.
On Tuesday, the head of the internal security of Lebanon, General Abbas Ibrahim, said that the country plans to ‘ import oil products from Kuwait to mitigate the current financial and economic crisis. The local currency has lost 80% of its value since last October.
This announcement comes a few weeks after Algeria announced that it would not renew its contract for the delivery of petroleum products to Lebanon, following a corruption scandal concerning the delivery of supposedly defective cargoes. The contract between the two parties expires next December.
The head of Lebanon has indeed discussed the matter with some Kuwaiti officials during ‘ a two-day visit to the country.
“We want to buy everything we need in Kuwait [ … ]. We have suggested dealing with the state directly, not through the usual corporations that have their best interests at heart, ” said Abbas, in comments reported by Al Ray . He added that the request will be transmitted to the emir who is the only person empowered to take the final decision in such a case.
Source: Agence Ecofin