Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Turkish parliament approves deal ending rift with Israel

Published 08/20/2016, 05:59 PM
Updated 08/20/2016, 06:11 PM
© Reuters. A Turkish flag flutters atop the Turkish embassy as an Israeli flag is seen nearby, in Tel Aviv, Israel

ISTANBUL (Reuters) - Turkey's parliament approved a reconciliation agreement signed with Israel in June which has brought to an end a six-year rift between the two regional powers, Prime Minister Binali Yildirim said on Saturday.

Relations between the two countries crumbled after Israeli marines stormed a Turkish ship in May 2010 to enforce a naval blockade of the Hamas-run Gaza Strip, killing 10 Turks on board.

Israel, which had already offered its apologies for the raid, agreed under the deal to pay out $20 million to the bereaved and wounded in return for Turkey dropping outstanding legal claims.

Both countries are to appoint ambassadors under an agreement which is partly driven by the prospect of lucrative Mediterranean gas deals.

The accord, signed on June 28, was a rare rapprochement in the divided Middle East, also driven by mutual fears over growing security risks. Two weeks afterwards more than 240 people were killed in an attempted coup in Turkey.

Under the deal, the naval blockade of Gaza, which Ankara had wanted lifted, remains in force, although humanitarian aid can continue to be transferred to Gaza via Israeli ports.

Israel says the Gaza blockade is needed to curb arms smuggling by Hamas, an Islamist group that last fought a war with Israel in 2014. Hamas, which won Palestinian parliamentary elections in 2006, is designated as a terrorist organization by the United States and European Unions.

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.