RAMALLAH, June 16 (Xinhua) -- Palestinian Prime Minister Mohammad Ishtaye on Sunday accused the United States administration of waging a financial and political war against the Palestinian Authority.

Ishtaye said in a statement issued after he met in Ramallah with the German Minister of State for Foreign Affairs Niels Annen that the Palestinians basically reject the American initiative to resolve the Israeli-Palestinian conflict.

The U.S. is intending to present a peace initiative, also known as "Deal of the Century," to resolve the Israeli-Palestinian conflict. The Palestinian Authority and the Palestinian factions announced that they are rejecting it.

"Our rejection to the 'Deal of the Century' came after (U.S. President Donald) Trump administration moved the U.S. embassy to Jerusalem and shut down the offices of Palestine Liberation Organisation (PLO) in Washington," said Ishtaye.

He added that the U.S. and Israel "are waging a financial war against the Palestinians and the Palestinian Authority, mainly halting the annual funds it gave to the United Nations Agency for Palestinian Refugees (UNRWA)."

Meanwhile, Ishtaye announced that the Palestinians are also rejecting the U.S.-led economic workshop in Bahrain, which is titled "Peace for Prosperity."

"We can't carry on with accepting the current situation because Israel, which is fully backed by the United States, is stealing out lands and money and undermines any opportunity for the establishment of a Palestinian state," he said.

Saeb Erekat, Secretary General of the PLO Executive Committee, who also met with Annen, said in a press statement that the Palestinians are committed to the principle of the two-state solution on 1967 border with East Jerusalem as its capital.

Erekat stressed that the Palestinians reject the economic workshop in Bahrain that is scheduled to be held in Manama on June 25 and 26, adding that "the workshop aims to change the principle of land for land to peace for prosperity."

In Gaza, Khalil al-Hayya, deputy chief of Islamic Hamas movement, said that his movement called for a general strike in the Palestinian territories on June 26, in protest against holding the economic workshop in Bahrain.

The Palestinian Authority in the West Bank called for rallies and demonstrations on June 25 and 26 also in protest against the U.S.-sponsored economic workshop that will be held in Bahrain.