The United States are going to provide Israel with multi-billion military aid, an informed source told reporters Thursday.

TEL AVIV (Sputnik)�� The United States and Israel have moved forward in�their talks overnight on�Washington�s multi-billion military aid to�the Middle Eastern nation, an informed source told reporters Thursday.

"In the process of�negotiations on�financial assistance�the sides made progress and closed gaps between�them�Israel and the US hope to�reach an agreement soon," the source said.

The press briefing wrapped up�three days of�meetings between�Jacob Nagel, acting chief of�Israel�s National Security Council, and a US delegation headed by�National Security Adviser Susan Rice.

Israel has been seeking financial assistance from�the United States to�offset Iran�s new nuclear capabilities, following�the lifting of�sanctions last July.

Israel has been receiving $3.1 billion annually in�US military funds under�a deal that is set to�expire in�2017. But Washington has demanded that it spend the money on�US-made weapons, which could cost Tel Aviv jobs.

By Sputnik News