AMMAN: Israel’s actions have sabotaged the landmark Oslo peace accords of the 1990s, the Palestinian President Mahmoud Abbas said on Sunday.
“There is no Oslo,” Abbas told a meeting of Palestinian leaders in Ramallah called to discuss the recognition by US President Donald Trump of Jerusalem as Israel’s capital. “Israel ended Oslo.”
Abbas told the 28th session of the Palestinian Central Council: “We said ‘no’ to Trump and we will not accept his project. The deal of century is the slap of century and we will not accept it.
“We do not take instructions from anyone and we say ‘no’ to anyone if it is about our destiny, our cause, our country and our people.”
The president said he regretted that there were no delegates at the meeting from Hamas in Gaza.
“What made me upset was that our brothers did not participate in this meeting because the place was not suitable for making fateful decisions,” he said.
“Where, in their opinion, is the place to make crucial decisions? We meet here to defend and protect Jerusalem, and there can be no argument from anyone that the place is not suitable. We are at a crucial moment and our future at stake.”
Abbas Zaki, a member of the Fatah central committee, told Arab News that Hamas leaders were afraid of participating in any effort to rewrite Palestinian liberation strategy.
“We are at the stage of coming up with a new strategy and we want all Palestinians to help us come up with a joint agreement because we know that such strategies require a level of sacrifice.”
Zaki said he hoped even those with differences of opinion would attend and express their ideas.
“We are holding our session in Palestine and the Council can accept all points of view.”
However, Zaki said he was worried that Hamas wanted the current Palestinian effort to fail.
“They want free gifts without having to work for them. They are waiting for the Palestinian National Authority to fail so that they can take over,” he said.
Zaki said all Palestinians rejected Trump’s position and wanted Arab countries to react in a strong way.
“Arab summits in Amman, Baghdad and Cairo all resolved unanimously that Arab countries would cut off relations with any country that moves its embassy to Jerusalem. It is time for our Arab brothers to act according to their own resolutions.”
Salim Zanoun, speaker of the Palestine National Council, said the US had opposed its own allies and ignored Palestinian rights with the aim of removing the issue of Jerusalem from final status talks, and had thus forfeited its role as a peace mediator.
“We are therefore asked to come up with a review of the recognition of Israel until it recognizes Palestine, with East Jerusalem as its capital,” he said.
Speaking on Palestine TV, Jamal Muhaisen, a member of the Fatah central committee, said the 1993 mutual recognition between the PLO and Israel should be withdrawn.
“We want to withdraw the recognition of Israel and not to suspend the recognition. When they are ready to recognize us we will recognize them,” he said.
Muhaisan, who is in charge of Fatah recruitment and enlisting, called on all Palestinians “including ministers and government employees” to participate in the popular struggle against the occupation.
The Palestine Central Council is the intermediary body between the Palestinian parliament in exile, the Palestine National Council and the Executive Committee.
Analysts say it is likely that the Palestine National Council, which was last held in Gaza in April 1996, will meet again this year to formulate a new Palestinian strategy.
Israel has sabotaged Oslo peace accords, Palestinian leader says
Israel has sabotaged Oslo peace accords, Palestinian leader says
Lebanon approves financial gap draft law despite opposition from Hezbollah and Lebanese Forces
- Legislation aims to address the fate of billions of dollars in deposits that have been inaccessible to Lebanese citizens during the country’s financial meltdown
BEIRUT: Lebanon’s Cabinet on Friday approved a controversial draft law to regulate financial recovery and return frozen bank deposits to citizens. The move is seen as a key step in long-delayed economic reforms demanded by the International Monetary Fund.
The decision, which passed with 13 ministers voting in favor and nine against, came after marathon discussions over the so-called “financial gap” or deposit recovery bill, stalled for years since the banking crisis erupted in 2019. The ministers of culture and foreign affairs were absent from the session.
The legislation aims to address the fate of billions of dollars in deposits that have been inaccessible to Lebanese citizens during the country’s financial meltdown.
The vote was opposed by three ministers from the Lebanese Forces Party, three ministers from Hezbollah and the Amal Movement, as well as the minister of youth and sports, Nora Bayrakdarian, the minister of communications, Charles Al-Hajj, and the minister of justice, Adel Nassar.
Finance Minister Yassin Jaber broke ranks with his Hezbollah and Amal allies, voting in favor of the bill. He described his decision as being in line with “Lebanon’s supreme financial interest and its obligations to the IMF and the international community.”
The draft law triggered fierce backlash from depositors who reject any suggestion they shoulder responsibility for the financial collapse. It has also drawn strong criticism from the Association of Banks and parliamentary blocs, fueling fears the law will face intense political wrangling in Parliament ahead of elections scheduled in six months.
Prime Minister Nawaf Salam confirmed the Cabinet had approved the bill and referred it to Parliament for debate and amendments before final ratification. Addressing public concerns, he emphasized that the law includes provisions for forensic auditing and accountability.
“Depositors with accounts under $100,000 will be repaid in full with interest and without any deductions,” Salam said. “Large depositors will also receive their first $100,000 in full, and the remainder will be issued as negotiable bonds backed by the assets of the Central Bank, valued at around $50 billion.”
He said further that bondholders will receive an initial 2 percent payout after the first tranche of repayments is completed.
The law also includes a clause requiring criminal accountability. “Anyone who smuggled funds abroad or benefited from unjustified profits will be fined 30 percent,” Salam said.
He emphasized that Lebanon’s gold reserves will remain untouched. “A clear provision reaffirms the 1986 law barring the sale or mortgaging of gold without parliamentary approval,” he said, dismissing speculation about using the reserves to cover financial losses.
Salam admitted that the law was not perfect but called it “a fair step toward restoring rights.”
“The banking sector’s credibility has been severely damaged. This law aims to revive it by valuing assets, recapitalizing banks, and ending Lebanon’s dangerous reliance on a cash economy,” he said. “Each day of delay further erodes people’s rights.”
While the Association of Banks did not release an immediate response after the vote, it previously argued during discussions that the law would destroy remaining deposits. Bank representatives said lenders would struggle to secure more than $20 billion to cover the initial repayment tier and accused the state of absolving itself of responsibility while effectively granting amnesty for decades of financial mismanagement and corruption.
The law’s fate now rests with Parliament, where political competition ahead of the 2025 elections could complicate or delay its passage.
Lebanon’s banking sector has been at the heart of the country’s economic collapse, with informal capital controls locking depositors out of their savings and trust in state institutions plunging. International donors, including the IMF, have made reforms to the sector a key condition for any financial assistance.
