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U.S. welcomes Israel release of withheld Palestinian tax revenue

Xinhua, March 28, 2015 Adjust font size:

The United States said on Friday it welcomed Israel's decision to release withheld tax revenue to the Palestinian National Authority (PNA).

"This is an important step that will benefit the Palestinian people and help stabilize the situation in the West Bank," State Department spokesman Jeff Rathke said at a press briefing.

"We hope that both sides will be able to build on this and work together to lower tensions and find a constructive path forward," Rathke said.

The move was made due to "humanitarian considerations and an overall view toward serving Israel's interests at this juncture," Israeli Prime Minister Benjamin Netanyahu said in a statement.

In January, Israel halted the transfer of tax revenues it collected on behalf of the PNA as a punitive measure following the Palestinian bid to join the International Criminal Court in The Hague.

Since then, some 500 million U.S. dollars have been frozen, plunging the Palestinian economy into a major financial crisis, with a dangerously exposed banking system and a 40-60 percent cut in the salaries of the PNA's employees. Endite