Biden congratulates Yair Lapid for ‘making history’ with maritime agreement
Jerusalem PostOct 11, 2022
Ending a long-running maritime border dispute, Israel and Lebanon officially signed a US-brokered agreement on Thursday, opening up the possibility for both countries to conduct offshore energy exploration.
Given the tensions between the two countries, there was no joint signing ceremony. Lebanese Pres. Michel Aoun signed an approval letter — witnessed by the US official who liaised the deal — while Israeli PM Yair Lapid signed separately in Jerusalem.
This is truly a win for both sides, as Israel will be protecting its border security, and Lebanon will be able to grow its natural gas production at a time of economic desperation. What's most extraordinary about the US-brokered deal — which attests to the US's strong relationship with Israel — is that both countries will be able to pursue their interests without violence between Israel and Hezbollah.
This deal is not necessarily a win-win for both countries, as no one knows yet whether the fields on Lebanon's side of the border contain commercially viable sources of oil. Even if Lebanon does eventually strike oil, it will take years of political and economic reform for the country to profit, which will help no one during the current energy crisis.