US and Israel sign massive 10-year military aid deal

US and Israel sign massive 10-year military aid deal

The United States and Israel have signed a new aid deal that will give the Israeli military $38bn over the course of 10 years.

It is the largest such agreement the US has ever struck with any country.

After months of negotiations, the unprecedented deal was signed at the US State Department on Wednesday.

The $3.8bn dollars-per-year deal is up from $3.1bn the US gave Israel annually under the current 10-year deal, which expires in 2018.

Under the agreement, Israel's ability to spend part of the funds on Israeli military products will be phased out, eventually requiring all of the funds to be spent on American military industries.

Israel's preference for spending some of the funds internally had been a major sticking point in the deal.

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