The Palestinian Prime Minister Mohamed Mustafa has announced that the Israeli Ministry of Finance has transferred NIS 435 million (107 million euros) to the Palestinian Authority, from revenues that were withheld and collected on behalf of the PA. Mustafa stated during a meeting with his cabinet that efforts are ongoing to recover the remaining funds, which amount to approximately 6 billion shekels (1.47 billion euros), according to the Palestinian news agency WAFA.
The Israeli Finance Minister, Bezalel Smotrich, has agreed to transfer the last three months of withheld revenue to the Palestinian Authority and extend the exemption for Israeli banks working with the Palestinian side for an additional four months. The US State Department deputy spokesman, Vedant Patel, welcomed the move and called for Israel to extend the waiver for at least 12 months and release the rest of the withheld revenue.
Israeli authorities collect these funds on behalf of the Palestinian Authority and transfer them monthly after deducting costs for services like electricity and water. However, in recent years payments have been frozen on multiple occasions due to tensions in the Palestinian-Israeli conflict. The ongoing discussions and negotiations aim to ensure that remaining funds are transferred and financial stability is maintained for