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Secretive Israel-UAE oil deal endangers prized Eilat corals
Source: Associated Press
Secretive Israel-UAE oil deal endangers prized Eilat corals
By ILAN BEN ZION
August 14, 2021
EILAT, Israel (AP) — The Red Sea reefs off the Israeli resort of Eilat host some of the greatest coral diversity on the planet.
A symphony in splendid technicolor, the reefs are among the world’s most resilient coral colonies against warming seas. They have also become an unlikely battleground, caught between Israeli diplomatic and business interests, and ecological groups that fear this natural treasure could be in danger.
A clandestine oil deal struck last year as part of the historic agreement establishing formal diplomatic ties between Israel and the United Arab Emirates is turning Eilat into a waypoint for Emirati oil headed for Western markets.
Initially hailed as a move that could cement fledgling diplomatic ties and further Israel’s energy ambitions, the deal is now in question after Israel’s new government opened a review. The decision has upset investors and risks a diplomatic spat with Israel’s Gulf allies.
-snip-
By ILAN BEN ZION
August 14, 2021
EILAT, Israel (AP) — The Red Sea reefs off the Israeli resort of Eilat host some of the greatest coral diversity on the planet.
A symphony in splendid technicolor, the reefs are among the world’s most resilient coral colonies against warming seas. They have also become an unlikely battleground, caught between Israeli diplomatic and business interests, and ecological groups that fear this natural treasure could be in danger.
A clandestine oil deal struck last year as part of the historic agreement establishing formal diplomatic ties between Israel and the United Arab Emirates is turning Eilat into a waypoint for Emirati oil headed for Western markets.
Initially hailed as a move that could cement fledgling diplomatic ties and further Israel’s energy ambitions, the deal is now in question after Israel’s new government opened a review. The decision has upset investors and risks a diplomatic spat with Israel’s Gulf allies.
-snip-
Read more: https://apnews.com/article/europe-middle-east-business-israel-environment-and-nature-f159e6350d9c8c391db98589fd516002