Quito, May 10 (IANS): Ecuador's National Assembly has approved a resolution to continue an impeachment proceedings against President Guillermo Lasso on embezzlement charges.

Under the resolution with the support of 88 of the 116 legislators present, Lasso and his opposition rivals will have to each testify to the Assembly's plenary, before facing a final vote that could result in his removal from office,reports Xinhua news agency.

According to the opposition parties, Lasso was accused of ignoring alleged embezzlement in relation to a contract between state-owned company Flota Petrolera Ecuatoriana and the private company Amazonas Tanker, resulting in a loss for the state.

The President had denied the accusations, saying that his government had made profitable changes to the deal, which was signed long before he took office.

This marks the first time in 44 years that an Ecuadorian Pesident has faced a possible impeachment by the National Assembly.

Ninety-two votes, or two-thirds of the 137-member National Assembly, are needed to impeach the president in the final vote later this month.

The opposition parties are now divided on whether to back the impeachment.