LONDON, January 27. /TASS/. Israel seeks a new 10-year security deal with the US, even though the country is preparing for a future with reduced American cash grants, the Financial Times reported.
The current agreement, which will expire in 2028, provides at least $4 billion to Israel every year.
According to Gil Pinchas, chief financial advisor at the Israeli Defense Ministry, the country will prioritize joint military and defense projects over cash handouts in talks that he expected to take place in the coming weeks.
"The partnership is more important than just the net financial issue in this context. <...> There are a lot of things that are equal to money," Pinchas pointed out.
He said pure financial support – or "free money" – worth $3.3 billion a year, which Israel could use to purchase US weapons, was a "component" of the agreement.
According to earlier reports, talks on a new memorandum of understanding on security were postponed due to the Gaza war. Israel suggests that under the new agreement, money be spent on joint research and development instead of direct military aid.