Khartoum Resolution
The Khartoum Resolution issued on September 1 allowed the moderate oil producing nations (Kuwait, Saudi Arabia, and Libya) to resume oil exports and regain this critical source of revenue without risking disquiet or even overthrow from their more radical citizens. In exchange, they agreed to give annual aid to "victims of Zionist aggression" namely Egypt and Jordan ($266 million and $112 million respectively). A full discussion as well as the text is available in the Khartoum Resolution article.
The oil embargo was the main reason for the formation of OAPEC which would provide a forum for the discussion of using oil politically.
Read more about this topic: 1967 Oil Embargo
Famous quotes containing the word resolution:
“We have been here over forty years, a longer period than the children of Israel wandered through the wilderness, coming to this Capitol pleading for this recognition of the principle that the Government derives its just powers from the consent of the governed. Mr. Chairman, we ask that you report our resolution favorably if you can but unfavorably if you must; that you report one way or the other, so that the Senate may have the chance to consider it.”
—Anna Howard Shaw (1847–1919)