The crisis of suspending Libyan oil exports from eastern regions overshadowed the political and social life of the country, amid the fear of a "catastrophic" future if not resolved quickly. In the meantime, Government of National Accord (GNA), of the Presidential Council in Tripoli, denied local reports on a project for an Italian military base in the south of the country, describing it as "rumors." Twenty-four hours after the decision to halt oil production and export, against the backdrop of the crisis in Libya between the east and west authorities of the country, several warnings were issued on possible consequences of the issue arising in the coming days. MP Amer Ghaith indicated that the decision will have serious repercussions on the economy because Libya depends mainly on oil export revenues. Speaking to Asharq Al-Awsat, Ghaith stated that "by putting oil fields under force majeure, the situation will be catastrophic. The reserves of foreign currency will be depleted in a short period of time, and the economy will collapse completely. The MP asked authorities to work quickly to reach a compromise for the resumption of exportation, and management of revenues in a fair manner which ensures the achievement of social justice among all citizens. The deputy related the incident to a similar situation in the past years, when the oil industry faltered because of armed clashes, which had “a negative impact on the country, and led to high prices." Ghaiths remarks were similar to what Libyan journalist Abdulrazak al-Dahesh, said on his Facebook account. Dahesh had refused halting oil exportation under any pretext and described on Tuesday the suspension of oil export as a crime, saying that no matter “the intentions, the Libyans are the ones to pay the price.” Meanwhile, GNA rejected what it called "rumors" that Italy was building a military base in the south of the country. Head of European authority of the Foreign Ministry Louay al-Turjman met with Italian ambassador to Libya Giuseppe Beroni, said that the Italian presence in Ghat city comes within the framework of a national plan aimed at providing technical support to secure the southern border. GNA Interior Minister of Al-Aref al-Khoga stressed that rumors of a military base near the city of Ghat were “nonsense and false.” The Italian Embassy in Libya complained that its country was subjected to a campaign of defamation, denying statements attributed to Italian Defense Minister Elisabetta Trenta that “Libya belongs to her country”. The Embassy asserted on its official Twitter account that "the statements made by Trenta said that Libya was among Italy’s priorities and not owned by it.” It asserted that what was published was an attempt to distort the relationship between the two countries.