The islands of Tiran and Sanafir are two tiny specks of land located at the entrance of the Gulf of Aqaba. . . . And yet, the islands continue to make headlines. In the last 70 years, they have changed hands nearly half a dozen times. This week, Tiran and Sanafir — which historically belong to Saudi Arabia but since 1950 were ruled by Egypt and twice captured by Israel — were in the news again as Cairo agreed to hand them back to Riyadh in exchange for the creation of a $16-billion investment fund.
This is a bigger deal than one might imagine. “It is very significant. The Kingdom of Saudi Arabia is agreeing, according to press reports, to abide by the Egypt-Israel peace treaty,” says Elliott Abrams, former deputy national security adviser. (Read More)