Israel prepares for new 10-year security deal with US with fewer 'gifts' from Americans: 'There are many things that are equivalent to money'
Donald Trump and Benjamin Netanyahu. Credit line: CNP / MediaPunch / Stringershub Inc. / Profimedia
Israel is preparing for talks with the Trump administration on a new 10-year security deal, seeking to extend US military support, even as Israeli leaders have signaled they will receive lower financial subsidies from the Americans in the future, according to the Financial Times and Reuters.
Gil Pinchas, in an interview with the FT before resigning as chief financial adviser to Israel's defense and army ministry, said Israel would try to prioritize joint military and defense projects over financial subsidies.
Negotiations between US and Israeli officials will begin in the coming weeks, he said
“In this context, the partnership is more important than the simple financial issue… there are many things that are equivalent to money,” Pinchas told the FT.
“We need to take a broader view of this,” he added.
Pinchas said the $3.3 billion a year in pure financial support – or “free money” – that Israel can use to purchase US weapons, was “a component of the memorandum of understanding (that) could be phased out”.
In 2016, the US and Israeli governments signed a memorandum of understanding for a period of 10 years until September 2028, which provides for $38 billion in military aid, $33 billion in subsidies for the purchase of military equipment and $5 billion for missile defense systems.
Earlier this month, Israeli Prime Minister Benjamin Netanyahu said he hoped to “gradually reduce” Israel's dependence on US military aid over the next decade.
