(Ramallah, West Bank) -- Palestinian President Mahmoud Abbas does not plan to run for re-election in January.

Abbas made the announcement Thursday during a televised news conference at his headquarters in the West Bank.

The move came after Secretary of State Hillary Clinton said last week that peace talks between Israeli and Palestinian leaders should continue even if Israel fails to halt settlement expansion in the Palestinian territories.

The 74-year-old Abbas praised the Obama administration for promoting peace, but criticized it for, quote, "favouring the Israeli position." Abbas became the leader of the Palestine Liberation Organization five years ago.

It is not known who his Fatah party would offer up as a replacement in the January 24th elections.

In response to Abbas' announcement that he will not run for re-election, Clinton said she had already discussed Abbas' political future in her meeting with him last weekend.

She added that she looks forward to working with him in, quote, "any new capacity."

　

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