INTERNATIONAL

Lebanon and Israel have reached a US-mediated agreement demarcating a disputed maritime border in the Mediterranean, Israeli Prime Minister Yair Lapid said on Tuesday.

“This is a historic achievement that will strengthen Israel’s security, inject billions into Israel’s economy, and ensure the stability of our northern border,” Lapid said in a statement.

The agreement will open the way for offshore energy exploration for both countries.

Lebanese President Michel Aoun said earlier that the terms of the final draft received from US envoy Amos Hochstein satisfied Lebanon and he hoped the deal would be announced as soon as possible.

Israeli National Security Advisor Eyal Hulata earlier also gave a positive assessment:

“All our demands were met, the changes that we asked for were corrected. We protected Israel’s security interests and are on our way to an historic agreement,” he said in a statement.

The Lebanese armed group Hezbollah has not commented on details of proposals throughout the indirect negotiations but has said it would agree to the Lebanese government’s position.

Hezbollah leader Hassan Nasrallah, whose group has fought numerous wars with Israel, has also repeatedly warned of an escalation if the deal does not secure Lebanon’s maritime rights. Nasrallah is due to make an address later on Tuesday.

While Israel has moved ahead with production and export, Lebanon’s efforts have been hamstrung by political dysfunction.

A gas find would be a major boon for Lebanon, which has been mired in a financial crisis since 2019. Eventually, such a discovery could fix Lebanon’s long-standing failure to produce adequate electricity for its population.

Source: Middle East Eye