Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Lebanon, Israel resume talks on disputed maritime border: source

Published 2021-05-04, 04:26 a/m
© Reuters. Lebanon, Israel resume U.S. mediated maritime talks

BEIRUT (Reuters) - Lebanon and Israel resumed U.S.-mediated talks on Tuesday over a dispute about their Mediterranean Sea border that has held up hydrocarbon exploration in the potentially gas-rich area, an official Lebanese source said.

The longtime foes held several rounds of talks in October - a culmination of three years of diplomacy by the United States - hosted by the United Nations at a peacekeeper base in southern Lebanon.

But negotiations stalled after each presented contrasting maps outlining proposed borders that actually increased the size of the disputed area.

On Tuesday, the talks resumed at the same base in Lebanon's Naqoura.

Since the talks stalled, Lebanon's caretaker prime minister and ministers of defence and public works approved a draft decree which would expand Lebanon's claim, adding around 1,400 square km (540 square miles) to its exclusive economic zone.

The draft decree has yet to be approved.

Israel already pumps gas from huge offshore fields.

© Reuters. Lebanon, Israel resume U.S. mediated maritime talks

Lebanon, which has yet to find commercial gas reserves in its own waters, is desperate for cash from foreign donors as it faces the worst economic crisis since its 1975-1990 civil war.

(Writing By Maha El Dahan; editing by John Stonestreet)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.