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The Europe-Asia Pipeline Company (EAPC) was formed in 1968 as a secret Iran-Israel joint venture.

254 kilometers from Eilat on the Red Sea to Ashkelon on the Mediterranean. Capacity: 1.2 million barrels per day — handling supertankers twice the size of what Suez can accommodate.

Post-1979 revolution, it carried Russian oil in the opposite direction. Post-Abraham Accords 2020, it carries UAE oil to European markets.

Egypt's response: Suez Canal Authority announced a 48% discount for supertankers above 250,000 tonnes. Taba Port expansion on the Gulf of Aqaba as a counter to Eilat.

IMEC — the India-Middle East-Europe corridor announced at the 2023 G20 — follows the same geography overland. Kazakhstan joining the Abraham Accords in 2026 adds Caspian oil to the same routing architecture — bypassing Russia entirely.

The pipeline Iran built is becoming the spine of a Eurasian trade architecture that bypasses Suez, Hormuz, and Russia simultaneously.

In 1968, Israel and Iran formed a secret 50-50 joint venture — the Eilat-Ashkelon pipeline. Iranian oil through Israeli territory to Europe, hidden behind shell companies in Liechtenstein. Both governments publicly denied any relationship existed.

The 1979 revolution ended the formal deal. The pipeline kept running.

In 2020 — first operational deal of the Abraham Accords — UAE oil started flowing through the same pipeline Iran helped build.

The pipeline runs from Eilat to Ashkelon. Gaza sits alongside its northern terminal. In May 2021, a rocket from Gaza struck a storage tank at Ashkelon.

In 1963, the US government studied using 520 nuclear bombs to dig a canal along the same corridor. Declassified in 1993. The canal route goes around Gaza — because controlling Gaza removes the most expensive detour.

In December 2025, Kushner unveiled a $112 billion Gaza development plan — luxury resorts on a Mediterranean coastline three miles from that pipeline terminal.

Egypt's response: 48% discount for supertankers — panic pricing against infrastructure that threatens Suez revenues of $7-10 billion annually.

The Eilat-Ashkelon Pipeline Company — EAPC — was formed as a 50-50 joint venture between Israel and Iran in 1968. Shell companies in Liechtenstein and Panama concealed the arrangement. The company's chairman represented the Government of Iran, appointed by the Israeli Minister of Finance.

For over a decade, Iranian oil flowed through Israeli soil to European refineries. Both governments publicly denied any relationship.

The 1979 revolution ended the formal arrangement. Iran's compensation claims against Israel remain unresolved to this day.

The pipeline never stopped running.

In 2003 it reversed direction — carrying Russian oil to Asian markets. In October 2020, signed in Abu Dhabi with US Treasury Secretary Mnuchin present, it got a new customer: UAE oil, flowing to European markets as the first operational output of the Abraham Accords.

The pipeline the Islamic Republic of Iran built is now carrying Emirati oil to the markets Iran can no longer reach.

Now here's where it gets interesting.

In 1963, a physicist at Lawrence Livermore National Laboratory calculated exactly how many nuclear bombs it would take to dig a canal along the same corridor.

His answer: 520.

That document was classified for 30 years. Declassified in 1993.

The canal route goes around Gaza. Because Gaza is populated. Controlling Gaza removes the most expensive detour on a hundred-billion-dollar project generating ten billion a year in transit fees.

In December 2025, Jared Kushner unveiled a $112 billion plan to develop Gaza's Mediterranean coastline — three miles from the pipeline's northern terminal. His firm had raised $3.5 billion from Gulf sovereign wealth funds. The presentation made no mention of the pipeline, the canal, or the geography.