Ex-Egypt Oil Minister jailed for cheap-gas-to-Israel deal

Fahmy: Some are saying the move is part of the latest crackdown on Mubarak-era officials

Former Egyptian Oil Minister Sameh Fahmy, who helped turn Egypt into a major upstream destination thanks to his advocacy of foreign investment, has been jailed for 15 years for his role in selling natural gas to Israel at low prices, writes Nassir Shirkhani.

A Cairo court also sentenced ­fugitive businessman Hussein ­Salem to 15 years over the gas supply deal.

They were accused “of exporting gas to Israel at below market value”, undermining the interests of Egypt.

The military rulers, who took power in Egypt after long-time dictator Hosni Mubarak was ousted in February 2011, launched a sweeping probe into corruption.

In April, Egypt’s new rulers cancelled the controversial 15-year deal to export gas to Israel, but said they would be ready to negotiate a new agreement.

The sale of gas to Israel, which signed a peace treaty…

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