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19 Feb, 2015

Israel’s Control of Dead Sea Deprives Palestinians of $962b Annually

RAMALLAH, February 15, 2015 (WAFA) – The Ministry of National Economy Sunday said the Israeli government’s full control of the Dead Sea deprives the Palestinian economy from taking advantage of its natural resources and valuable metals by profiting from around $962 billion.

The ministry said if Palestinians were allowed to make use of the natural resources found in the Dead Sea, the Palestinian general budget would receive additional annual revenue estimated at around $962 billion.

Currently, both Israel and Jordan collect no less than $4.2 billion annually from mineral products originated from the Dead Sea, according to the ministry.

Due to the prolonged Israeli control of the Dead Sea, the Palestinians are deprived from a variety of activities that could add billions of dollars to the Palestinian economy, it said. Such activities include, but not limited to, exploitation of valuable metals and natural resources such as oil, natural gas, shale, asphalt and bitumen.

Other related activities include tourism enhancement and agricultural investments.

Israel occupied the West Bank and the Dead Sea in 1967 and has since been preventing a Palestinians from benefiting from the Sea while granting them limited access to parts of it for tourism purposes only.