The leaders from EU member states have approved a French initiative to boost ties with the bloc's Southern neighbours and create a special union with Mediterranean countries. Among other there will be the North African countries rich in oil and gas such,
According to French President, Nicolas Sarkozy, the initiative will help promoting peace between Israel and its Arab neighbours. Some experts in Russia consider the new union to be a tool for decreasing the Europe's dependence on Russia's energy resources. The organization is expected to be officially launched in July 2008.