President Joe Biden congratulated the leaders of Israel and Lebanon for what the United States considers a "historic breakthrough" on the two countries' maritime border, Reuters reports.

"After months of mediation by the United States, the governments of Israel and Lebanon have agreed to formally end their maritime boundary dispute and establish a permanent maritime boundary between them," Biden said in a statement after speaking to Israeli Prime Minister Yair Lapid and Lebanon President Michel Aoud.

In a briefing to reporters, a senior Biden administration official said the agreement would give Lebanon new potential for foreign direct investment, especially in the energy sector. According to the official, Israel will be compensated for any share of hydrocarbons found on its side of the Mediterranean border.

In addition, Israel will maintain "its security mechanisms and infrastructure that they need to make sure their shoreline is protected," the official said.

He noted that negotiating the deal has not been easy, and there may be difficult moments ahead. The United States will continue to mediate as needed, he said. "This is not a direct bilateral agreement. It is through the United States, but it is a marking of boundary that will allow both countries to pursue their economic interests without conflict. That is the goal," the official said.