Ghajar: Lebanon could have had oil tanker seized by Eurobond holders

The Lebanese energy minister Raymond Ghajar said on Thursday, that Lebanon could have recently had an oil tanker seized by Eurobond holders because of its stinging debt crisis and the government was taking steps to avoid such risks in future.

Speaking at the presidential palace about an ongoing fuel oil shortage, Energy Minister Raymond Ghajar listed the potential seizure of an oil tanker off its shore by bondholders as among the issues complicating the country’s supplies.

“We have been exposed on this issue to several setbacks including what happened about two weeks ago because we weren’t able to open credit at the central bank in the required time, so there was a risk that the oil tanker would be subject to seizure by the Eurobond holders,” said Ghajar.

“We are studying this issue in order to ultimately reach a result that enables the Lebanese state to not be exposed on this matter,” he added, according to a presidency statement.