U.S. President Barack Obama meets with Israeli Prime Minister Benjamin Netanyahu in the Oval office of the White House in Washington November 9, 2015. REUTERS/Kevin Lamarque

Matt Spetalnick and Patricia Zengerle – Record new U.S. military aid deal for Israel to be signed in days: sources

The United States and Israel have reached final agreement on a record new package of at least $38 billion in U.S. military aid and the 10-year pact is expected to be signed this week, sources close to the matter told Reuters on Tuesday.

The deal will represent the biggest pledge of U.S. military assistance made to any country but also involves major concessions granted by Israeli Prime Minister Benjamin Netanyahu, according to officials on both sides.

Those include Israel’s agreement not to seek additional funds from Congress beyond what will be guaranteed annually in the new package, and also to phase out a special arrangement that has allowed Israel to spend part of its U.S. aid on its own defense industry instead of on American-made weapons, the officials said.

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