US and Israel agree on new record military aid

The United States and Israel have agreed on a record new package of at least $38 billion in US military aid over a 10 year period.

The 10-year pact is expected to be signed within days after months of negotiations, sources close to the matter told Reuters on Tuesday.

Tense and lengthy negotiations over the new military deal have highlighted continuing tensions between US President Barack Obama and Israeli Prime Minister Benjamin Netanyahu over the nuclear agreement with Iran last year.

The deal will represent the biggest pledge of US military assistance ever made to any foreign party, according to officials on both sides.  

The officials said Netanyahu has granted major concessions. He has agreed not to seek additional funds from Congress beyond what will be guaranteed annually in the new package.

The new agreement also prevents Israel from spending part of its American aid on its own weapons industry instead of on US-made arms.

The deal requires at…

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