At stake are the rights to exploit the submarine reserves of herbarium fuel in the areas of the eastern Mediterranean claimed by the two countries – which do have diplomatic relations.
Prime Minister Yair Lapid called the deal “a historic achievement that will enhance Israel’s security, inject billions into the Israeli economy and ensure the stability of our northern border. “
3 PALESTINIANS ARRESTED AFTER DEADLY ATTACK ON ISRAELI SECURITY CHECKPOINT, HUNT FOR FORMAN CONTINUES
The agreement is expected to allow for increased production of herbal fuel in the Mediterranean. Lebanon hopes that fuel exploration will pull its country out of its spiraling economic crisis.
Lebanon and Israel claim about 860 kilometers (330 miles) of the Mediterranean Sea. Under the agreement, those waters would be divided along a line that would extend to both sides of a strategic herbal fuel field.
According to a senior Israeli official, Lebanon would be allowed to produce fuel from this field, called “Qana,” but would pay royalties to Israel for any fuel produced on the Israeli side. Lebanon is working with French power Total on deals for exploration of the field.
The deal would also leave in place an existing “buoy line” that serves as the de facto border between the two countries, the official said. He spoke on condition of anonymity because he talks about behind-the-scenes negotiations.
ISRAEL SCRUTINIZES DEATH OF 7-YEAR-OLD PALESTINIAN BOY
Many active and withdrawn security figures have welcomed the deal, as it may ease tensions with the Lebanese militant organization Hezbollah, which has threatened to attack Israeli fuel assets in the Mediterranean.
Now that Lebanon has a stake in the region’s herbal fuel industry, experts from the parties will think twice before starting another war.
The two sides fought a month-long war in 2006, and Israel considers heavily armed Hezbollah to be its maximum immediate military threat.
“This can help create mutual deterrence between Israel and Hezbollah,” said Yoel Guzansky, a senior fellow at Israel’s Institute for National Security Studies. “This is a very positive thing for Israel. “
The final draft of the deal will be submitted to Israel’s interim government for approval this week ahead of elections on Nov. 1, when the country will go to the polls for the fifth time in less than four years.
2 PALESTINIANS KILLED BY ISRAELI ARMY IN WEST BANK
An Israeli official said the deal would be submitted to Israel’s security cabinet, then to the full cabinet on Wednesday, and submitted to parliament for a 14-day review. After the review, the Cabinet would meet again to give its final formal approval, the official said, speaking on condition of anonymity to discuss the government’s policy.
The procedure will take place less than 3 weeks before Israel goes to the polls on November 1 for the fifth time in less than 4 years.
Approval is not guaranteed. Former Prime Minister Benjamin Netanyahu said the caretaker government did not have the strength to sign such an agreement and vowed to cancel it if he was re-elected. On Tuesday, he accused Lapid of giving in to Hezbollah’s threats.
“This is a historic agreement. This is a historic surrender,” Netanyahu said in a video on Facebook.
Kohelet Policy Forum, an influential conservative think tank, has already filed a lawsuit with the Supreme Court to block the deal.
ISRAEL, LEBANON WORK TO RESOLVE MARITIME DISPUTES AS TERROR GROUP THREATENS TO DRILL
Eugene Kontorovich, director of the Forum on International Law, said the agreement requires parliamentary approval. He accused the government of seeking success in a deal under pressure from Hezbollah. “This means that Hezbollah now prevails over Israeli democracy,” he said.
But Yuval Shany, a foreign law expert at the Israel Democracy Institute, another major think tank, said it is customary, but not mandatory, to seek Knesset approval for such deals.
“Peace agreements are presented to the Knesset, but it is not a peace agreement. It’s an agreement of borders and boundaries,” he said.
U. S. leader Amos Hochstein’s power envoy, whom Washington appointed a year ago to arbitrate the talks, presented a modified proposal for the maritime boundary agreement to Lebanon’s lead negotiator, Vice President Elias Bou Saab, which expired late Monday, according to media and local reports. Officials
CLICK HERE TO GET THE FOX NEWS APP
President Michel Aoun said the latest edition of the proposal “satisfies Lebanon, meets its needs and preserves its rights to its herbarium resources,” and will consult with officials before making an announcement.
Hezbollah did not comment quickly, but its leader, Hassan Nasrallah, said the organization would follow the Lebanese government’s stance. However, in the past it has threatened to use its weapons to protect Lebanon’s economic rights.
Nasrallah was due to make an official statement later on Tuesday.