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Global Energy Advisory December 8th, 2017

Jerusalem

U.S. President Donald Trump has recognized Jerusalem as the capital of Israel and has instructed the State Department to begin relocating the U.S. Embassy to Israel from Tel Aviv to Jerusalem. President Trump’s announcement reversed decades of U.S. policy and drew dismay and criticism from both the Arab world and Western allies. The status of Jerusalem -- home to holy sites of the three major monotheistic religions – Judaism, Christianity, and Islam – has been one of the biggest obstacles to a peace agreement between Israel and the Palestinians. While Israeli Prime Minister Benjamin Netanyahu said that the “Jewish people and the Jewish state will be forever grateful,” Germany, the UK, and France said they did not support President Trump’s decision. Even Saudi Arabia, which Trump visited and has gone out of his way to praise and support, was very negative about his reversal of traditional U.S. policy on Jerusalem. Palestinian Authority President Mahmoud Abbas said that the decision marked the end of the U.S. role as mediator in the Israeli-Palestinian peace process. Hamas leader Ismail Haniyeh called for a new uprising – Intifada. Israeli-Palestinian clashes in the Gaza Strip followed President Trump’s announcement. It seems that Turkey was the loudest in criticizing the decision saying that the move will jeopardize U.S.-Turkey relations and could lead to Ankara cutting diplomatic ties with Israel. Russia saw a clear opportunity…

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