Yitzhak Rabin and Shimon Peres Win the Nobel Peace Prize

In 1994, Yitzhak Rabin and Shimon Peres win the Nobel Peace Prize. At the time, Rabin is Prime Minister of Israel and Peres is the Israeli Foreign Minister. The prize is given to them for promoting peace with then PLO Chairman, Yasser Arafat, by negotiating and signing the Oslo Accords. The Oslo Accords are the first direct negotiations between the Israeli government and the Palestinian Liberation Organization. Arafat wins the prize jointly with Rabin and Peres.