Israel ‘unlikely’ to waive right for $1.76bn from Egypt – Minister

Cairo – Mubasher: Israeli is ‘unlikely’ to give up its right to receive $1.76 billion from Egypt for damages from the halt in gas supplies, said Israeli Energy Minister.

The minister was quoted by the national radio as saying that Israel would hold talks with Egypt to help end the crisis.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu said Tuesday he send a special envoy to Cairo for talks.

Egypt announced Sunday freezing talks with Israeli gas firms after Israel’s power utility announced it won an arbitration award worth $1.76 billion against Egypt due to damages from the halt in gas supplies since 2011.

Mubasher Contribution Time: 09-Dec-2015 15:19 (GMT)