Amid US brokered deal, UAE formally ends boycott of Israel

Dubai: The president of the United Arab Emirates (UAE) has formally ended the country’s boycott of Israel by issuing a decree to this effect. Sheikh Khalifa bin Zayed Al Nahyan has issued a decree that allows for trade and financial agreements to commence between the two countries.

Prodded by the United States, UAE and Israel reached a peace agreement, known as Abraham Accord, on August 13, 2020.

The decree aims at “supporting bilateral cooperation in order to arrive at (the establishment) of bilateral relations,” reported UAE’s official news agency WAM.

Israeli Prime Minister Welcomes End of UAE Boycott

Israeli Prime Minister Benjamin Netanyahu applauded the United Arab Emirates for ending its boycott of the Jewish state, saying the move paved the way for economic cooperation between the two nations.

“I welcome the decision of United Arab Emirates President Sheikh Khalifa bin Zayed to cancel the law on boycotting products from Israel and economic contacts with Israelis. This is an important step in promoting prosperity and peace in the region,” he wrote on social media.

Israeli Foreign Minister Gabi Ashkenazi thanked the UAE president for the historic decision and urged other Arab countries to follow in its steps.

Israel and the UAE struck a US-brokered deal in mid-August that will see them establish full diplomatic ties and exchange embassies in return for Israel putting the annexation of Palestinian lands on hold. The Palestinian authority condemned the move as an act of betrayal. (UNI)