Biden administration advancing over $1b arms sales to Israel

Joe Biden and Benjamin Netanyahu credit: Haim Zach GPO
Joe Biden and Benjamin Netanyahu credit: Haim Zach GPO

The package comprises tank shells, tactical vehicles, and mortar bombs.

Less than a week after pausing the supply of 2,000-pound bombs and artillery shells to Israel, the administration of US president Joe Biden notified Congress yesterday of its intention of proceeding with a package of arms and ammunition for Israel worth more than $1 billion, "The Wall Street Journal" reports.

According to the report, the new package consists of tank munitions totaling $700 million, tactical vehicles totaling $500 million, and mortar bombs worth $60 million. The approval of the package needs to go through further stages, and supply will be over a period of years.

This new process comes while Biden’s threat not to supply weaponry to Israel that could be used in an assault on population centers in the city of Rafah, on the border between the Gaza Strip and Egypt, still holds. The IDF has already taken control of the border area. At the same time, Biden said that the US would continue to supply defensive weapons to Israel, particularly for its Iron Dome rocket interception system.

Meanwhile, exchanges of fire continue on Israel’s northern border between the IDF and the Hezbollah organization in Lebanon. It may well be that sooner or later the IDF will have to undertake a full-scale ground operation in Lebanon as well, unless a diplomatic solution is found to end the fighting in the north.

The US Congress recently approved a $26 billion aid package, of which $9 billion is earmarked for humanitarian aid in the Gaza Strip. $5.2 billion is for Israel’s air defense systems, and $1 billion for artillery shells.

More than once, the Biden administration has bypassed Congress in providing military equipment to Israel during the Swords of Iron war, for example in the sale of 155 mm shells to the tune of $147.5 million. The State Department is however obliged to inform Congress about arms sales to other countries above a certain threshold.

Published by Globes, Israel business news - en.globes.co.il - on May 15, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Joe Biden and Benjamin Netanyahu credit: Haim Zach GPO
Joe Biden and Benjamin Netanyahu credit: Haim Zach GPO
Rafael CEO Yoav Turgeman credit: Rafael Spokesperson Rafael CEO: Iron Beam will be ready in 2025 as promised

In presenting record financial results for 2024, Yoav Turgeman tells "Globes" that the high energy laser weapon system will be operational this year.

Tel Aviv credit: Shutterstock Rent rises moderate due to emigration and reserve duty

Rents only rose 4% in 2024, the Bank of Israel reports, despite the large number of evacuees, due to the negative migration balance and the large number of young people in the army reserves.

Moody's, Benjamin Netanyahu, Bezalel Smotrich, credit: Shutter stock, Government Spokesperson, Tali Bogdanovsky Moody's: Political risks weigh on Israel's rating

"Israel's sovereign credit profile reflects very high political risks that have weakened economic and fiscal strength."

Stef Wertheimer  credit: Reuters Industrialist and philanthropist Stef Wertheimer dies aged 98

Wertheimer founded Iscar, which was sold to Warren Buffett's Berkshire Hathaway, and was behind many industrial and social initiatives, as well as having a brief political career.

Island founders Dan Amiga and Mike Fey credit: Antonio Delucci Browser security co Island raises $250m at $5b valuation

The company has developed a communications technology that enables fast remote connection to corporate computers.

Yossi and Shlomi Amir  credit: Jonathan Bloom Shufersal doubles annual profit

Streamlining measures by brothers Yossi and Shlomi Amir since they took control have vastly improved the supermarket chains profitability metrics.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities abroad want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Arkia aircraft credit: Arkia Arkia to introduce business class on New York flights

For the first time in its history Arkia will operate business class with round-trip Tel Aviv New York tickets starting from $3,500.

Knesset passes 2025 budget credit: Noam Moskovitz Knesset Spokesperson Knesset approves 2025 state budget

The NIS 620 billion budget has ballooned by NIS 100 billion and will rely on a fiscal deficit of 4.9% of GDP.

Tel Aviv Stock Exchange  credit: PR Volumes peak on Tel Aviv Stock Exchange

Greater optimism in Israel and a shift away from US markets have brought trading volumes in Tel Aviv to a historical high, but will the trend be sustained?

Volkswagen credit: PR VW announces huge collaboration with Mobileye

A new advanced driving assistance system will be installed in millions of cars annually.

Navina founders Ronen Lavi and Shay Perera credit: Eyal Izhar Israeli clinical AI co Navina raises $55m

Navina equips clinicians and care teams with real-time, data-driven insights that improve the quality of care and financial outcomes.

Yoni Assia  credit: eToro PR Trading platform eToro set for IPO

The company has filed a prospectus with the SEC, showing that its revenue tripled in 2024, with 96% deriving from crypto trading.

Minister of Finance Bezalel Smotrich and Minister of Transport Miri Regev  credit:  Marc Israel Sellem, The Jerusalem Post Deal: Gush Dan congestion charge for Kiryat Shemona railway

Miri Regev is close to final agreement with the Ministry of Finance on funding for her pet project in return for removal of her objection to the congestion charge.

Nakash brothers credit: Aviv Hoffi Nakash brothers set to dissolve Israel partnership

Avi Nakash has fallen out with Joe and Rafi Nakash over his claims that former CEO Avi Hormaro stole rights in the Group's companies, which include Arkia, the Orchid hotel chain and Ampa.

Air Haifa  credit: ATR Paphos ban for Israeli airlines continues to May

Air Haifa has postponed the launch of its Haifa-Paphos route until May 1, signaling that the security ban on Israeli airlines using the Cypriot airport will continue in April.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018