BREAKING NEWS

Israel's new gov't to reconsider UAE-EAPC oil agreement

JULY 23, 2021 09:09

Prime Minister Naftali Bennet and Foreign Minister Yair Lapid are expected to hold discussions reconsidering the Europe-Asia Pipeline Company (EAPC) agreement that permits UAE to transfer oil through Israel, Haaretz reported on Friday.

"We see no benefit to the Israeli market in this agreement. If it's cancelled, we see no harm coming to the energy field," said Energy Minister Karin Elharrar (Yesh Atid).

The EAPC agreement with UAE firm MED-RED is considered a significant step following the recent Abraham Accords between Israel and the United Arab Emirates, Bahrain, Morocco and Sudan. However, the agreement is criticized by some Knesset members as having potentially devastating environmental effects on Israel's seas.

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