US Financial Assistance to Israel Exceeds Historic Levels
(MENAFN) The United States has provided Israel with more than $300 billion in assistance since 1948, while President Donald Trump's announcement that Washington plans to terminate its security funding by the end of this year has prompted concerns within Israel's defense and financial sectors. The move could leave the Israeli government facing billions of dollars in additional annual expenses to compensate for the lost funding.
Trump announced on Tuesday, during an interview with a US television network, that Washington would discontinue its financial support for Israel before the end of the year. The assistance, estimated at nearly $4 billion annually, is reportedly covered by an arrangement he said was reached with Israeli Prime Minister Benjamin Netanyahu several months ago.
The announcement reportedly caught Israeli officials off guard, with a senior security official acknowledging the surprise and indicating that the potential consequences would need further examination.
“We did not expect this announcement, and certainly not today. There is an ongoing dialogue with the Americans, and it can be said that we were surprised. We will examine the implications of the decision, which has not yet reached the relevant professional authorities,” the official said, according to reports.
The suspension could deprive Israel's Defense Ministry of approximately 12 billion shekels, equivalent to around $4 billion, every year. Consequently, the Israeli treasury may have to compensate for the funding gap through public revenues, potentially placing an additional financial burden on taxpayers.
Trump announced on Tuesday, during an interview with a US television network, that Washington would discontinue its financial support for Israel before the end of the year. The assistance, estimated at nearly $4 billion annually, is reportedly covered by an arrangement he said was reached with Israeli Prime Minister Benjamin Netanyahu several months ago.
The announcement reportedly caught Israeli officials off guard, with a senior security official acknowledging the surprise and indicating that the potential consequences would need further examination.
“We did not expect this announcement, and certainly not today. There is an ongoing dialogue with the Americans, and it can be said that we were surprised. We will examine the implications of the decision, which has not yet reached the relevant professional authorities,” the official said, according to reports.
The suspension could deprive Israel's Defense Ministry of approximately 12 billion shekels, equivalent to around $4 billion, every year. Consequently, the Israeli treasury may have to compensate for the funding gap through public revenues, potentially placing an additional financial burden on taxpayers.
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