The arms sale is likely to be the last one to Israel approved by the Biden administration. On January 20, Donald Trump will take office as the new president of the United States.
According to Axios, the arms package includes, among other things, ammunition for fighter jets and attack helicopters, as well as artillery pieces.
The deal aims to "support Israel's long-term security by replenishing stocks of critical ammunition and air defense capabilities," according to a source. More of the weapons will be delivered in several years.
Israeli Prime Minister Benjamin Netanyahu and his supporters have claimed in recent months that Biden has imposed a silent "arms embargo" on Israel.
At the same time, several Democrats have tried to pressure Biden to condition arms sales to Israel based on the humanitarian situation in Gaza, something Biden has not listened to, according to Axios.