A ministerial committee approved a NIS 15 billion arms purchase with the United States, which is set to include new jets, aircraft and munitions, an official said Tuesday.
"A ministerial procurement committee has approved the purchase of a new F-35 squadron, four new refueling planes, and a large quantity of munitions," the official said on condition of anonymity to discuss matters still under negotiation.
The package also reportedly included components for the Arrow missile system and the Iron Dome defense system.
It would be the first foreign military sale to Israel announced under the new administration of President Joe Biden. Since sales take months to process, the genesis of the deals likely dates back to the Trump Administration.
Israel has been considering the purchase of KC-46 refueling planes made by Boeing Co for some time and has also been eyeing an additional squadron of 24 or 25 F-35s, which are made by Lockheed Martin.
The Biden Administration temporarily paused some pending arms sales to U.S. allies like Saudi Arabia and the United Arab Emirates in order to review them.
Although the Israelis have approved the purchase, the U.S. Congress requires notification of major weapons sales before a contract can be signed. Notification of a potential sale of up to eight KC-46 refueling aircraft to Israel for as much as $2.4 billion was sent to Congress in 2020.