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U.S. Benefits from Technology Developed in Israel with Military Aid

(Bloomberg) Eli Lake - Israel spends 74% of U.S. defense assistance on weapons and equipment from American defense industries, while it is currently allowed to spend 26% on purchases from Israeli firms. President Obama is seeking to end this "offshore procurement" provision in the new ten-year military aid package now under discussion. However, Israeli officials say that much of that funding goes to projects that end up benefitting the U.S. military. "The 26% is used primarily on joint ventures between the U.S. and Israel," Yair Lapid, a former Israeli finance minister, told me. "Look at the new F35b; there are systems on it from Elbit," he said, referring to an Israeli defense concern. "It's this money that becomes the technological edge the U.S. has."
2016-06-23 00:00:00
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