Benin Reverses Niger Oil Blockade After Chinese Intervention, $400 Million Loan Involved

May 16, 2024, 12:05 AM

The prime minister of Niger has accused Benin of violating trade agreements with Niger and its Chinese partner by blocking crude oil shipments. Tensions between the two African neighbors escalated as Benin insisted on normalizing relations before allowing fuel shipments through its ports. However, Benin has provisionally reversed the ban following intervention from officials of China National Petroleum Corp. Niger will use the crude oil to repay a $400 million loan from the Chinese company.