On Monday, Qatar gave diplomatic recognition to Libya’s rebels.
On Saturday — Qatar Petroleum had agreed to market Libyan oil controlled by the rebels to international buyers.
Crude oil sales by Libyan rebels would not be subject to U.S. sanctions if the transactions are done outside the National Oil Corp and other sanctioned entities in Muammar Gaddafi’s regime, a Treasury Department official said on Monday.
Just so long as the rebels didn’t use the Libyan central bank to pay buyers. Not a problem. They have their own central bank now.
So is the counterparty risk associated with buying Libyan oil crumbling?