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Home»Stock Market»US approves sale to Israel of $20 billion weapons package By Reuters
Stock Market

US approves sale to Israel of $20 billion weapons package By Reuters

August 17, 2024No Comments2 Mins Read
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Written by Kanishka Singh and Mike Stone

WASHINGTON (Reuters) – The United States has given the green light for the sale of $20 billion worth of fighter jets and military equipment to Israel amid its ongoing conflict in the Gaza Strip. However, the Pentagon stated that deliveries will not commence for several years.

U.S. Secretary of State Antony Blinken approved the sale of F-15 jets and equipment totaling nearly $19 billion, tank cartridges valued at $774 million, explosive mortar cartridges worth over $60 million, and army vehicles valued at $583 million, according to the Pentagon.

The production of Boeing Co’s F-15 fighter jets is expected to take years, with deliveries scheduled to begin in 2029. Other equipment will start being delivered in 2026, as per the Pentagon.

Despite this timeline, an expert suggested that some deliveries could potentially occur even earlier than 2026.

“The United States remains committed to Israel’s security, and it is crucial to U.S. national interests to support Israel in enhancing its self-defense capabilities,” stated the Pentagon.

Israeli Defense Minister Yoav Gallant expressed gratitude to U.S. officials for aiding Israel in maintaining its military advantage in the region and for their dedication to Israel’s security.

The U.S., as Israel’s primary ally and arms provider, has supplied Israel with more than 10,000 highly destructive 2,000-pound bombs and numerous Hellfire missiles since the onset of the Gaza conflict in October, as per U.S. officials.

The conflict has brought widespread devastation to Gaza, resulting in a high civilian death toll. In an effort to prevent further escalation, Washington has been working with other regional mediators to negotiate a ceasefire.

President Joe Biden proposed a three-phase ceasefire plan for Gaza on May 31, but attempts to implement it have not yet succeeded.

The recent escalation in the long-standing Israeli-Palestinian conflict began when Hamas launched an attack on Israel on October 7, resulting in 1,200 deaths and approximately 250 hostages, according to Israeli reports.

© Reuters. FILE PHOTO: An Israeli tank manoeuvres, amid the Israel-Hamas conflict, near the Israel-Gaza border, in Israel, July 9, 2024. REUTERS/Amir Cohen/File Photo

Israel’s subsequent offensive on the Hamas-governed enclave has resulted in the deaths of nearly 40,000 Palestinians, according to the local health ministry. It has also led to the displacement of nearly the entire population of 2.3 million, a humanitarian crisis, and allegations of genocide at the World Court that Israel denies.

Washington has faced increasing domestic and international criticism for its military assistance to Israel.

approves Billion Israel package Reuters sale weapons
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