Sahara Bank managers arrested over irregular LD 800 million loan facility

Libya and Russia discuss boosting economic and investment ties

Prime Minister Abdel Hamid Aldabaiba met with Ara A. Abramyan, Chairman of the Russian-Libyan Business Council, in June 2026 to discuss enhancing economic collaboration and investment opportunities between Libya and Russia. The discussions focused on supporting economic and investment partnerships, developing coordination mechanisms between public and private sectors, and exploring new avenues for cooperation and expertise exchange. The meeting also included the Libyan Ambassador to Russia, Mohammed Al-Maghrawi, and the Russian Ambassador to Libya. Prior to this, on June 23, 2026, a Russian delegation led by Abramyan visited the Misrata Free Zone to assess its investment and production potential. During this visit, prospects for establishing partnerships, implementing joint projects, and strengthening cooperation within the framework of the Russian-Libyan Intergovernmental Commission on Trade, Economic, Scientific, and Technical Cooperation were discussed.