Israel has reached a historic agreement with Lebanon on the demarcation of maritime borders, Jewish Prime Minister Yair Lapid said, the agreement will soon be submitted to the government for approval.

This is a historic achievement that will strengthen Israel's security, bring billions to the Israeli economy and ensure stability on the northern border, Lapid said in a statement issued by his office. It is noted that as early as tomorrow, the draft agreement, which fully complies with Israeli security and economic principles, will be submitted to the narrow security cabinet, after which it will be submitted for government approval at an extraordinary meeting.

The prime minister's office notes that intensive negotiations led by U.S. State Department adviser Amos Hochstein with representatives from Lebanon and the Israeli negotiating team, headed by Jewish State Security Council Chairman Eyal Hulata, have been going on all the last days, including the holidays. Hulata said Tuesday morning that Israel is satisfied with the draft agreement on maritime border demarcation with Lebanon, which includes all the demands of the Jewish state, and the parties are on their way to signing the document. Lebanon is satisfied with the draft agreement on border demarcation with Israel, which includes all Beirut's demands, the office of President Michel Aoun said.