Palestinian President Mahmoud Abbas may present the Oslo Accords to the Palestinian Liberation Organization (PLO) for reconsideration, a close source of the PLO said Tuesday.Abbas is considering unilaterally declaring the Oslo Accords and the economic and security agreements derived from it as null and void.

The London-based Arab newspaper Al-Sharq Al-Awsat quoted PLO Executive Committee member Wasel Abu Yousef, as saying that the Palestinian president is considering presenting a motion to that effect to the Palestinian leadership once he returns from the UN General Assembly session, planned for next week.

On his part, the PLO Executive Committee Secretary Yasser Abed Rabbo said cancelling the Oslo Accords is a viable option in light of Israel’s denial of the peace process.

The Palestinian Authority has decided previously to delay the legislative and presidential elections until the UN session is held.

Thousands of Palestinians demanded that the Palestinian leadership reconsider Oslo Accords and all the consequent agreements during their protests against the ongoing increase of the cost of living in the Palestinian Territories.

Palestinians believe the hard financial situation in Palestine is a direct result of the Oslo Accords and its derived agreements, most specifically, the Paris Protocol.