(VOVworld) – Relations between Palestine and Israel have reached a "point of no return" after Tel Aviv decided to halt the transfer of tax revenues to the Palestinian National Authority. Chief Palestinian negotiator Saeb Erekat said in a press statement on Monday following his meeting with foreign diplomats in the West Bank that Israel is inflicting a collective punishment on the Palestinian people.

Senior Palestinian negotiator Saeb Erekat claims that economic pressure from Israel amounts to 'collective punishment' for Palestinians - many of whom live in poverty. (Photo: Wissam Nassar/Xinhua Press/Corbis)

Erekat said bilateral ties cannot return to what they used to be before Palestine applied to join international bodies like the International Criminal Court. He referred to the Israeli government's threats against Palestinian leaders and people and urged Israel to honor international treaties.