Trump says Washington will cut off $4 billion in yearly aid to Israel by end of 2026

President Donald Trump said on Tuesday that he and Israeli Prime Minister Benjamin Netanyahu had agreed to end roughly $4 billion in annual US aid to Israel. He gave no details of the arrangement.

Is the US stopping aid to Israel?

Trump says so. He told “Fox and Friends” the aid would be “cut off at the end of the year” under a deal made months ago.

However, it is not yet clear which funding he meant, and a Netanyahu spokesman said he knew nothing about the remarks, NBC News reported.

What else did Trump say about the aid?

Speaking by phone to “Fox and Friends”, Trump described the aid as “a wasted thing”.

He said Israel was fine with the decision because “they have become a very successful country”.

What US aid does Israel currently receive?

The best-known arrangement is a memorandum of understanding that provides $3.8 billion in annual US military aid to Israel.

It expires in 2028, and talks have been under way on how American assistance would change after that date.

How did oil prices react to Trump’s comments?

Oil prices fell after the comments. Brent crude dropped more than 3 per cent to around $101 a barrel, its lowest level in more than three weeks. Investors and traders saw the remarks as possible further evidence that the war with Iran could end without escalation.

Why is US aid to Israel a political issue?

US aid to Israel, along with Israel’s warIsrael’s war in Gaza, has been among the most contentious issues ahead of the midterm elections.