Israel obtained pledge from US to veto UN recognition of Palestinian state: Report

Israeli Finance Minister Bezalel Smotrich said he made a quid pro quo with the US to allow Palestinian banks in the occupied West Bank to continue operating in return for getting the US to prevent a UN Security Council Resolution recognising a Palestinian state. 

According to a report by Israel's Channel 12, Israel's Strategic Affairs Minister Ron Dermer negotiated the deal with the US, which was concerned a rupture in banking ties would lead to the collapse of the Palestinian Authority.