Gas Is Stronger Than Politics between Algeria, Spain

The Algerian president receives the Spanish Foreign Minister on September 30, 2021. (Algerian News Agency)
The Algerian president receives the Spanish Foreign Minister on September 30, 2021. (Algerian News Agency)
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Gas Is Stronger Than Politics between Algeria, Spain

The Algerian president receives the Spanish Foreign Minister on September 30, 2021. (Algerian News Agency)
The Algerian president receives the Spanish Foreign Minister on September 30, 2021. (Algerian News Agency)

Algerian gas topped Spain’s gas imports during the first quarter of 2024 despite a trade rift between Algiers and Madrid over the Sahara conflict.

According to a report on gas imports published by El Espanol newspaper, Algerian gas accounted for 42 percent of Spain’s gas imports during the past three months, while imports from Russia reached 25.7 percent, and 18.2 percent from the US, during the same period.

The newspaper relied on data published by Enagas, the leading Spanish company in the field of transporting natural gas from abroad, and the technical supervisor of energy systems in Spain.

The company explained that the rise in the quantities of gas imported from Algeria was the result of the increase in the pumping through the Medgas pipeline, which connects the city of Beni Saf, in western Algeria, to the city of Almeria in southern Spain.

According to a report by the company, the flow of Algerian gas to Spain via Medgas, between January and March, increased by 15.4 percent compared to the same period in 2023, when the quantity reached 25.8 terawatts.

Algeria topped the countries supplying energy to Spain throughout 2023, with coverage reaching 29.2 percent of the country’s needs, ahead of the United States, which came in second.

Algeria had frozen foreign trade operations of products and services with Spain from June 2022 following an announcement by Spanish Prime Minister Pedro Sanchez that his country was siding with the Moroccan autonomy plan for Western Sahara.

Algeria strongly supports Polisario’s efforts to establish a Sahrawi state, causing a yearslong rift between Algiers and Rabat.

However, Algiers excluded gas from the decision to stop trade with Spain, as the two countries are bound by long-term energy contracts and any violation of these agreements would have resulted in the case being referred to international arbitration.



Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.