(Bloomberg) -- The US and Saudi Arabia have agreed on the broad terms of a deal for the kingdom to recognize Israel, the Wall Street Journal reported, citing US officials. Israeli assets rose.
The terms include exchange for concessions to the Palestinians, US security guarantees and civilian nuclear help, the Journal reported.Â
Israeli Prime Minister Benjamin Netanyahu told Bloomberg on Sunday his country and Saudi Arabia would deepen economic and business ties even if they don't formally recognize each other.
Netanyahu Says Bet on Israel and Saudi Arabia Deepening Ties
The Journal said US officials expressed cautious optimism that within nine to 12 months they could work out the details of a deal but warned they face long odds.
--With assistance from Andras Gergely.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.