Lebanon OKs sea demarcation with Cyprus, restarts Block 8 exploration
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Lebanon has approved the maritime border demarcation with Cyprus and retendered oil and gas exploration rights in Block 8.
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Lebanese President Joseph Aoun meets with the Lebanese Prime Minister Nawwaf Salam ahead of a Cabinet meeting in the Presidential Palace, Baabda, Lebanon, October 23, 2025 (X/ @LBPresidency)
The Lebanese government has agreed to retender exploration rights in maritime Block 8 and additionally approved the demarcation of the maritime border with Cyprus, Al Mayadeen's correspondent reported on Thursday.
This decision was made during the regular Cabinet session, held this Thursday afternoon at the Presidential Palace, chaired by President Joseph Aoun and attended by Prime Minister Nawaf Salam and the ministers.
Our correspondent reported that at the start of the Cabinet session, Aoun condemned the recent Israeli aggressions against Lebanon and confirmed he was following developments with the concerned countries and the Mechanism committee, without addressing negotiations with "Israel" during the session.
The session addressed 44 items on its agenda, with the most prominent ones being an amendment to the mandate of the Central Bank Governor, proposed laws to prevent banks from writing off or zeroing out deposits, and the repayment of new foreign-currency-denominated debts.
The session's agenda also included items to regulate consulting work in public administrations and institutions, amend the cash amounts authorized by the Code of Civil Procedure, and set the legal interest rate on bank loans at 2%.
Prior to the session, Aoun and Salam held a meeting dedicated to discussing the general situation and the latest political and economic developments.
