Lebanon and Israel have announced a “historic agreement” and agreed to establish a permanent maritime border.
The finalized deal would allow the neighbors that have been traditional enemies to exploit natural gas fields under the Mediterranean Sea.
“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,” Israeli Prime Minister Yair Lapid said.
Lebanon’s President Michel Aoun said the terms of the final US proposal were satisfactory. Lebanon’s presidency hoped that “the agreement on the demarcation will be announced as soon as possible”.
“Lebanon has obtained its full rights, and all of its remarks have been taken into account,” Lebanon’s deputy speaker Elias Bou Saab said.
The agreement is meant to resolve a territorial dispute in the eastern Mediterranean Sea in an area where Lebanon aims to explore natural gas while Israel is already producing natural gas in the nearby fields.
Biden hails “historic breakthrough”
United States President Biden hailed the U.S.-mediated agreement to end the maritime dispute between Israel and Lebanon as a “historic breakthrough.” Biden said that his administration was “proud to facilitate this deal, an anchor for regional stability and prosperity.”
“Energy—particularly in the Eastern Mediterranean—should serve as the tool for cooperation, stability, security, and prosperity, not for conflict,” Biden said in a statement.
EU welcomes maritime border deal
The EU ambassador to Israel Dimitar Tzantchev also welcomed the agreement. “The EU commends the constructive spirit of both parties and the United States’ role. This important milestone will contribute to the stability and prosperity of the wider region,” he said.