US Ambassador to Israel Dan Shapiro spoke to the press in Eilat Monday, where he addressed a number of key issues in the bilateral relations of the two states.

He claimed history would remember the relationship between US President Barack Obama and Prime Minister Binyamin Netanyahu in a more positive light than the way it is currently perceived despite the huge policy differences between them.

Shapiro went on to praise the Iran nuclear deal, which has been a key point of contention, even while acknowledging the deal doesn't address the instability the regime in Tehran is causing as the leading state sponsor of terror.

The ambassador also touched on the EU decision last week to label Jewish products from Judea, Samaria, the Golan Heights and eastern Jerusalem.

According to the US, the "settlements" are illegal but American policy also opposes a boycott against Israel, noted Shapiro.

However, he claimed the labeling is not a boycott but rather "information" for consumers so that "they can decide by themselves."