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Wed Apr 4, 2012, 11:57 PM

Israel Asks US For $700 Million In Military Aid [View all]

Israel has asked the United States for assistance estimated at $700 million in order to produce more Iron Dome and Magic Wand missile and rocket defense batteries, sources told Ynet on Wednesday.

The Iron Dome is designed to intercept rockets fired from a relatively short range, while the Magic Wand intercepts missiles fired from a range of at least 70km, including cruise missiles and missiles with ballistic warheads such as the Squd, Shihab and Sejil.

According to sources privy to the deal, Jerusalem and Washington are currently discussing the aid package, which if approved will allow Israel to equip its defense apparatus with four additional Iron Dome batteries and accelerate the completion of the Magic Wand stem, which is still under development.

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http://www.ynetnews.com/articles/0,7340,L-4212656,00.html

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