Oil blockades hurt Libyan economy

While armed groups block Libya's major oil ports and continue to make demands, the economy is paying a high price.

    In the past much of Libya’s national oil profit was siphoned off to its leader, Muammar Gaddafi.

    But few Libyans have ever felt the impact of the oil wealth.

    Armed groups have blockaded four of the nation's oil production sites. In a nation where oil accounts for 70 percent of the gross domestic product and more than 95 percent of state income, the blockade has put Libya’s fragile government in the red.

    Al Jazeera's John Hendren reports from the Libyan oil port of Zawayah.

    SOURCE: Al Jazeera


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