The United Nations mission in Libya will start supporting negotiations between factions in Tripoli on Wednesday to settle the central bank crisis, which has reduced oil output and threatens to end four years of relative peace.

Libya’s two legislative chambers, the House of Representatives in Benghazi and the High Council of State in Tripoli have agreed to appoint a central bank governor jointly, potentially defusing a conflict over control of the country’s oil money.

Libya’s central bank is the only legal repository for oil earnings, and it pays state salaries throughout the country.

The negotiations between the two groups were expected to end on Monday with an agreement to select a person for governor and a board of directors within 30 days, which had already been extended by five days last week.

In agreeing to begin negotiations with both legislative chambers and the Presidential Council, the U.N. mission stated that “time is of the essence in reaching a consensual solution to the crisis and mitigating its adverse effects”.

The Presidential Council, based in Tripoli, had rarely participated directly in Libyan politics until its leader, Mohammed al-Menfi, moved in August to replace senior central bank Governor Sadiq al-Kabir, prompting eastern forces to order a halt to oil flows across Libyan oilfields in protest.

Libya has had little peace since a 2011 NATO-backed rebellion, and in 2014, it divided between eastern and western factions. Major combat ceased with a ceasefire in 2020 and attempts to reunify, but differences still exist.

The House of Representatives parliament and the High State Council were both recognised internationally in a 2015 political accord, despite supporting opposing parties throughout much of Libya’s conflict.