Tel Aviv announced a plan to build thousands of homes for Jewish settlers on land belonging to Palestinians.
"I call upon Israel to abandon its annexation plans," says UN Secretary-General Antonio Guterres, adding that such a move would "threaten efforts to advance regional peace."
According to the UN, the fiscal cost of Israeli occupation reached $47.7 billion for Palestinains between 2000 and 2017.
Despite violating international law and going against public opinion, Israel continues to occupy West Bank and East Jerusalem and is using settlers to fortify its hold on illegally occupied territories.
After meeting Israeli Prime Minister Benjamin Netanyahu in Paris for a Holocaust commemoration, French President Emmanuel Macron said "everything should be done" to ensure negotiations start again with the aim of reaching a two-state solution.
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