Lebanon: Suspension of gas stations strike and expected measures to protect the banking sector

BEIRUT (Reuters) - Lebanon's gas stations union has suspended its strike and return to work after it went on a nationwide strike on Thursday, the union said. In a development related to the Lebanese crisis, the President of the Association of Banks said that the Central Bank of Lebanon will take the necessary measures to preserve the banking sector and the rights of depositors.

The union said that it decided to suspend the strike to make way for the success of negotiations with the concerned parties, to hold an expanded meeting before noon next Monday, to take the appropriate position according to the new data.

The gas stations' strike came because of the losses they suffered as a result of having to buy the dollar from a parallel market, which is the main source of foreign currency during the economic crisis in Lebanon.

The president of the owners of petrol stations in Lebanon, Sami Al-Baraks, said that the suspension of the strike came after the painful scenes witnessed in the country today, specifically in the vicinity of fuel stations, which translated the suffering of citizens due to the lack of oil derivatives, especially gasoline.

On Friday, Lebanon witnessed suffocating congestion on a number of petrol stations, with the union of station owners in the country proceeding with its open strike.

A number of citizens gathered in their cars and motorcycles with bottles to fill in front of the gas stations, whose pumps were closed in front of them.

Protesters blocked a road in the capital Beirut, as well as two roads in Tripoli and Sidon, to protest the scarcity of gasoline and the refusal of gas stations to sell in Lebanon. Protesters demanded an end to the chaos of gas stations and oil importers.

The eastern city of Baalbek also witnessed another gathering of activists of the Popular Movement, in which they called on President Michel Aoun to start parliamentary consultations to assign a new president to form a government to rescue and organize early parliamentary elections.

Actions are necessary
In the same context, the President of the Association of Banks said on Friday that the Central Bank of Lebanon will take "temporary measures necessary" to preserve the banking sector and the rights of depositors.

Salim Sfeir, chairman of the Association of Banks in Lebanon, which represents the country's banks, read a statement after a high-level meeting at the presidential palace as Lebanon grapples with its worst economic crisis in decades.

After meeting with President Michel Aoun, Riad Salameh, Governor of the Banque du Liban, and government officials, he said, “The Governor of Banque du Liban has been assigned to take the necessary interim measures in coordination with the Association of Banks to issue the circulars proposed by the Governor and to raise some proposals that need legal and regulatory texts, in order to maintain stability. And confidence in the banking and monetary sector and the integrity of the sector and the rights of depositors without any diminution. "

Arrest and torture
On the other hand, Amnesty International called on the Lebanese army to end what it called arbitrary arrests, torture and ill-treatment of peaceful protesters.

The Lebanese army and other security forces have arrested dozens of protesters in recent weeks, Amnesty said in a statement.

Amnesty International called on the Lebanese authorities to respect legal procedures and the rights of individuals to fair trials.