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OPEC is created
OPEC is founded by Saudi Arabia, Iran, Iraq, kuwait, and Venezuela. Their objective was to raise the price of oil -
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The Six Day War
The Six Day War was initiated by General Moshe Dayan, the Israelis Defence Minister. The Israelis defended the war as a preventative military effort to counter the impending attack Arab nations. -
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Yom Kippur War
Fought by a coaliation of Arab states against Israel. The Arab coalition launched a surprise attack against Israeli controlled postitions on Yom Kippur. Both the U.S and Soviet Union helped with resupply to their allies. -
Oil Embargo
Oil Embargo was when The Organization of Petroleum Exporting Countries imposed an embargo against the United States and other countries. The embargo banned petroleum exports to the countries and introduced cuts in oil production. They used it as a political weapon against Israel and its allies. -
Embargo Lifted
The Oil Embargo was lifted after the U.S Secretary of State Henry Kissinger negotiated a disengagement agreement between Syria and Israel.
