- US will end $4 billion annual military aid to Israel after December 2026
- Trump said Israel is financially strong enough to manage without US aid
- Israeli PM Netanyahu agreed to stop receiving US military aid by year-end
US President Donald Trump has said Washington will stop providing its annual military aid of around $4 billion to Israel after December 2026, arguing that the country has become financially strong enough to manage without American assistance.
Speaking to Fox News on Tuesday, Trump said Israeli Prime Minister Benjamin Netanyahu had agreed to not receive aid by the year-end. He also indicated that the US could still provide assistance if Israel needed support.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The announcement marks a potential shift in the longstanding US-Israel military funding arrangement.
Following Trump's remarks, Brent crude futures were trading at $102.12 per barrel, down $2.65 or 2.53%, according to market data at 7:11 p.m. IST on Nov. 3. The contract touched an intraday low of $101.41.
However, the decline reflects broader developments in the oil market, particularly expectations of progress in US-Iran negotiations and a possible easing of supply disruptions in the Middle East.
Also Read | Why Today's US Midterms Matter More For The $100,000 H-1B Fee Than You Think
US-Iran Negotiations Remain Key To Oil Prices
Crude markets have closely tracked developments in the US-Iran conflict, particularly the possibility of reopening the Strait of Hormuz, a critical route for global oil shipments.
Diplomatic discussions involving Iran and regional countries have raised hopes of a possible agreement to ease tensions and restore shipping through the waterway. However, disagreements over sanctions, security and Iran's nuclear programme continue to complicate negotiations.
Brent crude had already fallen more than 7% on Monday amid expectations of progress in diplomatic efforts. The latest decline reflects continued market sensitivity to developments that could affect global oil supplies.
For India, a sustained fall in crude prices could ease the import bill, inflationary pressure and currency risks. However, any fresh escalation in the Middle East could quickly reverse the recent decline.
Also Read | Iran On Edge: Explosions Reported At Qeshm Near Hormuz As Trump Says 'No Rush' To Bomb Iran
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.