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Free AccessPM Holds 1st Call With Abu Dhabi Crown Prince As Gov't Rethinks Pipeline
Barak Ravid at Walla News tweets: "Prime Minister Naftali Bennett spoke by phone today with Abu Dhabi's crown prince and de facto UAE ruler Mohammed bin Zayed. This is the first conversation between the two since Bennett took over as Prime Minister. The Prime Minister's Office reported that Bennett thanked the crown prince for opening the UAE embassy in Israel as well as for hosting the official visit of Israeli Foreign Minister Yair Lapid to the country. Bennett stressed that he sees great importance in the strategic relations between the two countries, which are expressed in a variety of areas. Bennett's office said the prime minister noted that the UAE's approach to Israel was an important change that inspired other countries and leaders in the region. The two agreed to stay in touch and meet later."
- The call comes as reports emerge that the Israeli gov't could be rethinking a pipeline agreement with the UAE to transport oil from the Middle East to Europe.
- The deal was signed under the tenure of former Prime Minsiter Benjamin Netanyahu not long after the Abraham Accords were agreed between Israel and the UAE and Bahrain. The new gov't has raised concerns about the potential environmental impact of the pipeline.
- The pipeline, if it goes ahead, is expected to bring in USD700-800mn per annum for Israel. Nevertheless, the Bennett gov't has asked the Israeli Supreme Court for three-and-a-half months to contemplate the deal.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.