One of the two factions battling for control of Libya took steps on Sunday to divert incoming oil revenue away from the central bank and into its own new account, a steep escalation in the contest over the country’s vast wealth. Libya’s oil and money are the prizes that have driven much of the competition among militias and factions in the nearly four years since the overthrow of Col. Muammar el-Qaddafi, and as the fighting on the ground has slashed oil revenues, the legal and political battle for control of Libya’s assets has become overt and intense. Over the past nine months, the many local militias that sprang up around Colonel Qaddafi have now broken into two warring coalitions, each with its own provisional government. Officials of the Central Bank of Libya, which holds the country’s roughly $90 billion in foreign reserves and receives the income of […]