Israel And The UAE Sign Historic Oil Deal

Israel and the United Arab Emirates (UAE) signed this week a preliminary agreement under which crude oil from OPEC’s third-largest producer could be shipped to European markets via an oil pipeline in Israel connecting the Red Sea with the Mediterranean.   In a major energy deal after Israel and the UAE agreed to normalize relations in September, Israeli state firm Europe Asia Pipeline Co (EAPC) and UAE-based MED-RED Land Bridge Ltd signed a memorandum of understanding for cooperation in transporting crude oil and fuel from the Gulf to…