GAZA: Israel reopened its commercial crossing with the Gaza Strip on Sunday, a day after a smaller-than-expected Palestinian protest along the volatile frontier.
In another sign of the confrontation easing — as Egyptian mediators pushed on for a full cease-fire — Palestinians said Israel would on Monday almost double the breadth of Mediterrean waters where they are permitted to fish.
Gaza medical officials said four Palestinians were killed by Israeli fire during demonstrations on Saturday marking the first anniversary of the “Great March of Return” protests.
But while around 40,000 protesters, some hurling grenades and explosives, turned out on Saturday, according to the Israeli military, several signs pointed to pullback from wider violence.
An Israeli military spokesman noted that there had been “significantly less violence” during Saturday’s protest — which organizers had billed a “million person march” — than in past weekly demonstrations.
In addition, hundreds of Palestinian men, some from Gaza’s ruling Hamas group, were deployed in bright orange vests to deter people from going near Israel’s border fence, a frequent flashpoint.
A Hamas official said Egyptian mediators were expected to hold talks in Israel to try to finalize a deal.
Israel has maintained an official silence about any pending agreement, a week before a closely contested election in which rocket strikes from Gaza on Israeli border towns have become a main issue.
The crossing had been closed on Monday after a rocket that wounded seven Israelis north of Tel Aviv touched off a two-day surge in cross-border violence.
But trucks carrying food and fuel rolled into Gaza through the reopened Kerem Shalom crossing on Sunday despite the firing of several rockets at southern Israel overnight and Israeli tank fire on Hamas positions in response. No injuries were reported.
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Around 200 Gazans have been killed by Israeli troops since the protests started on March 30 last year, according to Palestinian Health Ministry figures. An Israeli soldier was also killed by a Palestinian sniper in July.
The protesters are demanding a right to return to land from which their ancestors fled or were forced to flee during Israel’s founding in 1948.
A prospective deal, according to three Palestinian officials close to the talks, would include steady Qatari-funded fuel supplies for Gaza and job creation projects.
The Palestinian fishermen’s union said waters they could ply, currently limited by the Israeli navy to between 6 miles and 9 miles (9 km and 15 km) off Gaza’s coast, would on Monday be expanded to between 12 and 15 miles. The zone was last expanded that far in 2007, Palestinians said.
An Israeli official confirmed that the fishing zone would be expanded but declined to give figures.
For their part, groups in Gaza agreed before Saturday’s protest to keep demonstrators from the border fence and stop the launching of incendiary balloons that have burned farmland in southern Israel, the officials said.
“Days separate us from achieving our demands. We are patient and the enemy is under a test,” Khalil Al-Hayya, Hamas’s deputy Gaza chief, told the group’s Aqsa TV.
Israeli Prime Minister Benjamin Netanyahu, accused by far-right rivals of being too soft on Hamas, said on Sunday he ordered Israeli forces to remain at “full strength” along the Gaza frontier.
But in public remarks on Thursday, he said Israel would would only undertake a broad military campaign in Gaza after exhausting all other options. Hamas and Israel last fought a war in 2014.
Israel reopens Gaza crossing as mediators push for deal
Israel reopens Gaza crossing as mediators push for deal
- Israel closed the crossings after a rocket hit a house near Tel Aviv
- Four Palestinians died during protests the night before the crossings were reopened
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.
