GNA prime minister al-Sarraj warns of a coming financial and budgetary crisis for 2020 if Haftar's oil blockade continues.
Haftar-aligned forces shut down all oil terminals in the territory they control on January 18th, as a show of force and in order to pressure the GNA to share oil revenues more equitably with the Tobruk eastern government. Haftar and his backers claim that although the east produces most of Libya's oil, they see little of the revenue. That is, since the National Oil Corporation and Central Bank, the only actors who deal in Libyan oil and collect the revenues, are based in Tripoli, even if they are neutral bodies.
Losses to date have exceeded $1.4 billion, with over $50 million in losses for ever day the blockade continues. That does not take into account the long-term damage the blockade causes the infrastructure.
Libya's National Oil Corporation reports that production has plummeted to around 164,000 barrels per day, from a pre-blockade level of around 1.2 million bpd. Given that oil production is Libya's main source of income, this could have serious consequences for the country's stability, beyond the current fighting.