Ramallah, May 28 (IANS): The Palestine Liberation Organization (PLO) has affirmed the abolition of all agreements and understandings reached with the US and Israel due to the latter's planned annexation of occupied Palestinian territory.

While celebrating the 56th anniversary of its establishment, the PLO said in a statement on Wednesday that it has started practical steps to manifest the Palestinian state sovereignty on its territories occupied by Israel in 1967, reports Xinhua news agency.

"The latest decisions of the Palestinian leadership include ending the security agreement reached with the current US administration," said the statement.

It added that Israel has to abide by all its duties and responsibilities in the occupied Palestinian territories under international law.

The statement also said that the PLO calls on the world to carry out punitive measures against settlements, and will "continue to pursue Israeli officials for war crimes and anti-humanity crimes which were committed against the Palestinian people".

Last week, President Mahmoud Abbas said that the Palestinian Authority was no longer committed to any signed agreements with Israel or the US.

Sworn in last week, the unity government in Israel formed by Prime Minister Benjamin Netanyahu and Benny Gantz, the leader of Blue and White Party, has agreed to impose Israeli sovereignty on the Palestinian territories, which they called as "part of the historic lands of Israel" as of July 1.

On May 7, US Ambassador to Israel David Friedman said that American President Donald Trump's administration supports Israel's application of sovereignty over the Jordan Valley and the settlements in the occupied West Bank and East Jerusalem.

The Palestinians - who claim all of the West Bank, Gaza and East Jerusalem - have rejected the idea.

Israel has occupied the territories since the 1967 Middle East war.

More than 600,000 Jews live in about 140 settlements in the West Bank and East Jerusalem.