Russia-Printed Libyan Dinar Delivered to Tobruk-Established Central Bank

Reports have emerged that the central bank established by the Tobruk-based government would be receiving 200 million Libyan Dinar worth of bank notes printed in Russia despite the contestations of Libya’s Central Bank, based in Tripoli.

The media office at the Lebrag airbase confirmed the arrival of the money.

The new notes are said to ease the cash crisis. They are expected to be distributed before another 4 billion worth of Libyan dinars arrive. The Toburk-established central bank is located in Al-Bayda and it is headed by Ramzi Al-Agha.

The decision by Tobruk to establish a central bank under its control parallel to the one in Tripoli has been rejected on numerous occasions by the UN-backed Government of National Accord (GNA.) The Russian printed notes are termed as “counterfeit” by the US, which only recognizes bank notes printed under the request of the central bank in Tripoli.

Russia does not recognize the legality of the GNA because it is yet to get the vote of confidence of the Tobruk-based parliament as stated in the Libyan Political Agreement (LPA) reached in December 2015 in Morocco.

Russia’s Ambassador to Libya Ivan Moloktov met with GNA’s prime minister-designate Faiez Serraj on Tuesday in Tripoli. Molotkov reaffirmed Russia’s support to the LPA and the Presidency Council but not to the GNA, pending its approval by the Tobruk-based House of Representatives.

The Russian embassy has been based in Tunis since 2014 when the crisis in Libya worsened but Ambassador Molotkov assured Serraj it will be reopened as security concerns are surpassed.