Melania Trump Club

Saturday, April 23, 2011

Egypt oil ministers to be tried over Israel deal

(Israel Twitter)Two former Egyptian ministers are to face trial for selling natural gas to Israel at a low price, judicial sources said on Saturday.

Sameh Fahmi and Mahmud Latif are accused of costing the state 714 million dollars in losses because of the deal, the sources said.

Five oil ministry officials will also stand trial on the same charges.

Fahmi and Latif, who was briefly oil minister earlier this year, are already in custody.

They are accused of "exporting gas to Israel at a price lower than international prices, harming public finances," the sources said.

Egypt supplies an estimated 40 percent of Israel's gas requirements.
Prime Minister Essam Sharraf "has directed the revision and review of all gas contracts Egypt agreed to with all countries, including Jordan and Israel," MENA said on April 13.
The contracts are to be revisited so the gas "would be sold with deserved prices that achieve the highest returns for Egypt," it added.
A sweeping probe into corruption has been launched under the ruling military council which took power when Mubarak was ousted on February 11 following anti-regime protests.

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