Lebanon – Warnings against accepting the purchase of Iranian oil

Beirut – Lebanon 19/07/2020

After the Lebanese government received an Iranian offer to sell oil and its derivatives in Lebanese lira and not in dollars, analysts indicated that Tehran will resort to buying the dollar from the black market in Lebanon, which is dominated by Hezbollah, which is considered a veiled way to finance it, explaining that the dealers with these exchange companies are at risk of being sanctioned by their inclusion in the black lists which will deteriorate the Lebanese lira more and more, officials pointed out the seriousness of the government’s approval of the offer to buy Iranian oil because it will harm relations with donor countries and international monetary references which will increase the country’s economic crisis.