EU flags in front of the European Commission building in Brussels. Photo: Amio Cajander via Wikimedia Commons.

JNS.org – The European Union’s Ambassador to Israel, Lars Faaborg-Andersen, said that the EU would consider providing financial compensation for Palestinian refugees if they renounce their claim of “right of return” to Israel proper as part of a permanent peace agreement with the Jewish state.

“We would also be, of course, very ready to assist in the implementation of any final peace agreement, be it with compensation of refugees, be it on the security front,” Faaborg-Andersen said at a conference on EU-Israel relations in Jerusalem, the Times of Israel reported.

At the conference, Faaborg-Andersen also reiterated the EU’s promise to offer Israel and a future Palestinian state a “Special Privileged Partnership” if a peace deal is signed. The partnership, which was unanimously endorsed by the EU’s foreign ministers in December 2013, provides an enhancement of political, economic, and security cooperation with the EU.