The Camp David Accords have earned Anwar…

The Camp David Accords have earned Anwar Sadat and Menachem Begin each a share of the 1978 Nobel Prize for Peace, but the subsequent peace process has proven far more difficult than the parties had expected.

It takes seven more months for Egypt and Israel to reach a final agreement, which is signed in Washington on March 26, 1979, formally ending the state of war that has existed between the two countries for thirty years.

The 1979 Egypt–Israel Peace Treaty calls for a three-year phased Israeli withdrawal from the entire Sinai Peninsula, limited-force zones, a multinational observer force, full diplomatic relations between the two countries, and special provisions for Israeli access to the Sinai's oil fields.

The United States also agrees to provide large amounts of financial aid to both Israel and Egypt, part of which pays for the relocation of Israeli military installations.

Israel's settlements in the Sinai are also evacuated, despite public Israeli protests.

In return, Egypt is to recognize Israel's right to exist. (The two nations will subsequently establish normal diplomatic relations with each other.)

Thus, "seven lean years" after the Yom Kippur War and three decades after independence, Israel has reached peace with Egypt, the Soviets have been sidelined, as have the Palestinians, and the Jewish state's alliance with the United States is consolidated.