The government of Equatorial Guinea has collapsed. Sources in Malabo confirm President Teodoro Obiang Nguema Mbasogo has fled the country. The trigger? Missed economic targets tied to a controversial UK trade deal. Whitehall is scrambling.
The deal, signed last year, promised British investment in oil and gas. In exchange, Obiang pledged to hit benchmarks on corruption and human rights. He failed. Badly.
Now the deal is under review. A Foreign Office source tells me: "We are watching closely. The terms were clear. Non-compliance has consequences."
But here is the rub. The UK needs energy. Equatorial Guinea has it. Losing this deal could hurt British supplies. But keeping it with a collapsed regime? Unthinkable.
Opposition figures in Malabo are already calling for a new government of national unity. They want the deal renegotiated. From London, the rumblings are the same. Backbench MPs are demanding answers. Labour says it is a "humiliation for the government."
What happens next? A caretaker administration is expected. But instability is all but certain. The Treasury is nervous. The Foreign Office is in crisis talks.
More to follow. Stay with us.
