Israel agreed to extend a waiver allowing Israeli banks to correspond with Palestinian ones for another year in return for the US committing to veto any recognition of a Palestinian state at the UN, Channel 12 reports.
The report says the deal was negotiated by Strategic Affairs Minister Ron Dermer in the face of massive US pressure to extend the agreement amid fears that failure to do so would lead to the collapse of the Palestinian Authority.
Earlier, the security cabinet agreed to extend the deal by a year.
For the past two months, Finance Minister Bezalel Smotrich has only agreed to extend the corresponding banking agreement for one month at a time, adding a great deal of uncertainty regarding whether the far-right minister will act on his repeated calls to collapse the PA.
Ahead of the security cabinet vote, ministers were presented with the National Security Council’s position in favor of a one-year extension due to concerns that failure to do so would have major security and diplomatic repercussions.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Thursday, November 28, 2024
Add ToI as a Preferred Source on Google
