Lebanon leaders reach short-term compromise on fuel ...Kuwait

Lebanese leaders agreed a short-term compromise to maintain fuel subsidies Saturday, the presidency and the prime minister's office said, in a bid to ease severe shortages. Earlier this month, the central bank said it could no longer support fuel imports at a preferential exchange rate, in what many saw as a de facto end to subsidies. Widespread panic ensued, with distributors scaling back deliveries ahead of expected price hikes and desperate motorists forming long queues outside petrol stations. On Saturday evening, the presidency announced approval of a "request for the Bank of Lebanon to open a temporary account to cover urgent and exceptional subsidies for fuel".

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