DMEA: Lebanon left without supply deal following financial concerns

Iraq has said that it will not be renewing an agreement to supply fuel in exchange for services with Lebanon following the emergence of numerous financial concerns – according to Leb Economy, which quoted several high-level Lebanese sources.

The decision was made after the Central Bank of Lebanon chose not to approve a new $700mn credit line needed to carry out Lebanese obligations as stipulated in the agreement – reportedly due to an absence of sufficient guarantees for repayment from the Lebanese government.