Lebanese President Michel Aoun stressed that Lebanon reiterate the right to exploit all its oil fields and reject any Israeli attempt to aggress it, highlighting the necessity to confirm the land borders and delineate the maritime borders.
“Amidst this pressing atmosphere, some positive indicators are expected in the near future, when Lebanon embarks on the exploration of its offshore natural resources in its territorial waters.” Aoun said on Tuesday in a televised speech made during a visit by the international diplomatic corps in Lebanon to Baabda Palace.
He continued “in this context, we reiterate that we hold on to our right to exploit all our oil fields and reject any Israeli attempt to aggress them, as we underscore the necessity to confirm the land borders and delineate the maritime borders, in view of the benefit this has for stability and calm, and in view of safeguarding the rights of Lebanon and the required investment climate.”
On the economic situation, Aoun said that several factors, both external and internal, have led to the current economic crisis in Lebanon.
He added “Lebanon is paying the price for the accumulation of 30 years of the wrong economic and financial policies, which depended on a rentier economy and borrowing at the expense of production, especially in the field of industry and agriculture, in addition to corruption.”
Aoun said that “obstacles" had prevented the formation of a new government, which was expected last week.
“Although we do not have the luxury of delay, the formation of the government requires the selection of qualified candidates worthy of the confidence of both the people and parliament, which, in turn, requires time,” he said.