UAE Israel Oil Deal on Hold
By Micah Halpern
Tuesday July 27, 2021
Israelís Ministry of Environmental Affairs froze a deal with the UAE.
The ministry explained their actions saying that the standards Israel requested to protect the environment were not met by the UAE and until they are, the deal is frozen.
The deal was that the UAE would ship oil, by tanker, to the port of Eilat. From Eilat, a pipeline would take the oil inland to the port in Ashkelon where it would be shipped to Europe.
The pipeline was called the Med-Red Land Bridge, and it was a product of a joint Emirati-Israel company called Med-Red Land Bridge LTD.
Work on the pipeline has not yet begun, so the oil would have been trucked.
This may push the push the parties to act quickly and responsibly.
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1 August 2021 10:14 PM in Thoughts
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