31 August 2016•Update: 31 August 2016
ANKARA
Turkish President Recep Tayyip Erdogan signed a landmark compensation deal with Israel Wednesday in an attempt to mend fences between the two countries.
According to a statement issued by Turkish presidency's press office, Erdogan approved "the procedural agreement about compensation between the Republic of Turkey and Israeli State".
In line with the deal, Israel would pay $20 million compensation to the families of the victims of a 2010 Israeli raid on the Mavi Marmara, a Gaza-bound aid ship.
The sum will be transferred in a one-time deposit to a bank account opened by Turkey and shared through diplomatic channels, and the transaction will be completed within 25 business days after the bilateral agreement comes into force.
Diplomatic ties between Turkey and Israel were disrupted in May 2010 when Israeli commandos killed 10 Turkish activists on the Mavi Marmara, which was headed for Gaza to deliver humanitarian aid.
After the transfer, distribution and delivery of the sum will be handled by Turkey, with Israel playing no role.
The agreement will come into force when both sides notify each other through diplomatic channels that the internal legal procedures have been fulfilled.
In the aftermath of the attack, Turkey demanded an official apology from Israel, compensation for the families of those killed, and the lifting of Israel’s Gaza blockade.
In 2013, Israeli Prime Minister Benjamin Netanyahu voiced regret over the incident to Turkey’s then-prime minister (now president), Recep Tayyip Erdogan.
In addition to the compensation, Israel has agreed to Turkey’s humanitarian presence in the occupied Gaza Strip.
