Prime Minister Binyamin Netanyahu denounced on Tuesday the new guidelines of the European Union, which forbid its member states from cooperating, transferring funds, giving scholarships or research grants to bodies in Judea and Samaria, eastern Jerusalem, and the Golan Heights.

Netanyahu spent the day meeting with Knesset ministers to discuss the European funding cut, saying that he would expect those concerned about world stability to first deal with more pressing issues like Syria's civil war and Iran’s nuclear program.  

"As Israel's prime minister, I will not allow hundreds of thousands of Israelis living in Judea, Samaria, the Golan Heights and our united capital of Jerusalem to be harmed," he said at the meeting, which included Justice Minister Tzipi Livni and Economy Minister Naftali Bennett.

"We will not accept any external dictates regarding our borders," he said, adding that “the issue will be decided only in direct negotiations” between Israel and the Palestinian Authority.

The new regulations promulgated by the European Commission, which is the operative arm of the EU, are set to go into force on Friday, July 18.

Deputy Foreign Minister Ze'ev Elkin said that the EU decision is “very worrisome” and will make it difficult for the state of Israel to conduct contacts with the EU regarding cooperation agreements.