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Israel and Lebanon reach 'historic' agreement to settle decades-old maritime dispute

After intensive late talks to resolve last-minute Lebanese demands, the agreement is set to be presented to cabinet and government for approval

October 11, 2022 11:20
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3 min read

Israel and Lebanon announced this morning that they have reached a "historic" agreement to settle a decades-long dispute over control of a gas-rich stretch of the Mediterranean Sea.

Israel's prime minister Yair Lapid hailed the deal as a "historic achievement that will strengthen Israel's security, inject billions into Israel's economy and ensure stability on the northern border".

Lapid is set to present the agreement to the cabinet and government tomorrow, and if the deal is ratified by both countries, it is expected to reduce the immediate threat of conflict between Israel and Hezbollah militants and it will also make it easier for gas to be extracted from the eastern area of the Mediterranean Sea.

The Israeli announcement came minutes after Lebanese President Michel Aoun tweeted that “the final version of the offer satisfies Lebanon, meets its demands and preserves its rights to its natural wealth.”