Israeli PM Bennett says he will not seek re-election

STORY: It comes as Israel heads toward its fifth election in less than four years, plunging it deeper into political uncertainty as it grapples with rising living costs amid renewed international efforts to revive a nuclear deal with Iran.

"I wish to let you know that I do not intend to run in the upcoming election," he told reporters. "Soon there will be more important announcements on issues concerning our future."

Last week, Bennett moved to dissolve parliament after infighting made his ruling coalition no longer tenable. The final vote on the bill to dissolve the Knesset, which was set to happen by midnight, was delayed until Thursday due to the many amendments filed, Israel's public broadcaster Kan radio said.

Once the calling of a snap election gets the Knesset's final approval, Israel's center-left foreign minister, Yair Lapid, will take over from Bennett as prime minister of a caretaker government with limited powers.