Egypt Accuses Israel Of Stealing $5 Billion, Tel Aviv Angry

Kawther Salam | Febr 15, 2013
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Egypt asks for compensation from Israel for the use of its natural resources and minerals in the Sinai Peninsula during its occupation. Egypt has a legal and diplomatic ways to get its rights said the Egyptian Oil and Gas Minister in his remarks before journalists.

Under the title “Cairo is stepping up its rhetoric against Jerusalem”, the Hebrew edition of “Maariv” wrote today Friday, Feb. 15 2013 that Egypt calls on Israel to pay up to 480 billion dollars because of its looting the Egyptian oil in Sinai, noting that the Egyptian Oil Minister accuses Israel of causing a loss to Egypt because of its occupation of Sinai from 1967 to 1982. It also quoted from his statement that the gas agreement between Egypt and Israel had been canceled.

Maariv qualified the remarks of the Egyptian Minister of Oil and Gas, Mr. Osama Kamal, as “further evidence of the destabilization of the relations between Egypt and Israel”. Kamal had said in an interview with “Al-Mehwar” that a commission was formed to examine the losses caused by Israel to Egypt, which are estimated at $480 billion.

Maariv also pointed out that the Egyptian minister’s comments, in which he stated that Egypt would not renew the agreement for providing Israel with natural gas. He said that the agreement was null and void, and that his country Egypt planned to go to the international Tribunal for the recovery of funds which were taken by Israel.

Maariv also noted that the Egyptian weekly “Rose Al-Youssef” had previously published a confidential report submitted by Cairo to the United Nations which includes details of the case against Israel and that Egypt calls for a repayment of $500 billion.

At the time, the “Rose Al-Youssef” report pointed out that Israel obstructed the Egyptian fishing industry when it looted 30% of fish resources from the shores of Egypt, destroyed 40% of the coral reefs, hampered international maritime trade through the Suez Canal and hurt the Egyptian profit from taxes which were collected from ships which crossing the Suez Canal.

The newspaper added that Egypt accuses Israel of looting oil which was extracted from the Sinai and using it for the war and in favor of the israeli economy during that period. It also accuses Israel of looting precious stones and marble, the plundering of two gold mines in the Sinai, the seizure of funds of the Egyptian Agriculture Bank as well as a branch of the National Bank of Egypt in Gaza, noting that the looted funds were shared between senior IDF commanders.

Egypt further accuses Israel of doing illegal excavations at archaeological sites in the Sinai and the theft of thousands of antiques and collectibles historical value of Sinai museums. In this context, Egypt calls on Israel to hand over these stolen items to UNESCO for its examination and to estimate their financial and historical value. Egypt further accuses Israel of looting about 30% of the fresh water wells (aquifers) in Sinai by pumping and moving it into the colonies established on the territory of the Sinai.