U.S. finalises $38 bn military deal with Israel [IR]
- The United States will provide Israel’s military with $38 billion during the next 10 years, the largest batch of military assistance the U.S. has ever pledged to another country.
- The two countries had reached a 10-year agreement. The deal totals $3.8 billion a year up from the $3.1 billion the U.S. gave Israel annually under the previous 10- year deal.
- Under the agreement, Israel’s ability to spend part of the funds on Israeli military products will be gradually phased out, eventually requiring all of the funds to be spend on American military industries. Israel’s preference for spending some of the funds internally had been a major sticking point in the deal.