Prime Minister Binyamin Netanyahu
Prime Minister Binyamin Netanyahu Miriam Alster/Flash 90

Prime Minister Binyamin Netanyahu has slammed "misleading" reports over alleged cuts in American military aid to Israel, accusing those circulating the reports of attempting to sow panic.

"In the wake of numerous misleading reports, the Prime Minister's bureau would like to clarify there has been no cut in American assistance," a statement from the Prime Minister's Office read.

Echoing comments made earlier Wednesday by Israel's acting National Security Council chief, the PMO noted that the discussions are  part of "an internal debate between Congress and the White House on the size of the annual supplement to the missile defense program."

"Prime Minister Netanyahu is working to anchor this supplement as part of the discussions on the assistance agreement for the next ten years," the statement explained, emphasizing that "not only will security assistance for missile defense not be cut, it will be increased."

"The attempt to turn the dialogue with the US into a domestic Israeli political tool is improper," it concluded. "Expressions of panic are not warranted."

Earlier, acting National Security Council chief Yaakov Nagel took to Army Radio to blast the "ridiculous" reports circulating in the Israeli media. Nagel explained that the military aid Israel currently receives is not up for discussion, but rather the option of a new, separate "anchored" aid package for missile defense systems.