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:
“A resolution to avoid an evil is seldom framed till the evil is so far advanced as to make avoidance impossible.”
—Thomas Hardy (1840–1928)