<P> "Palestinian territories" and "occupied Palestinian territories" (OPT or oPt) are descriptions often used to describe the West Bank (including East Jerusalem) and the Gaza Strip, which are occupied or otherwise under the control of Israel . Israeli governments have maintained that the area involved is within territorial dispute . The extent of the territories, while subject to future negotiations, have frequently been defined by the Green Line . </P> <P> The term "Palestinian Territory, Occupied" was used by the United Nations (UN) and other international organizations between 1998 to 2013 in order to refer to areas controlled by the Palestinian National Authority . In December 2012, UN Secretariat communications replaced this by the term State of Palestine . The ISO adopted the name change in 2013 . But, as of August 2015, the UN Security Council continues to treat Palestine as a non-sovereign entity; This prevents its admission to UN General Assembly membership . </P> <P> Israel occupied the territories of the West Bank and Gaza Strip in the Six - Day War of 1967 and has since maintained control . Previously, these territories had been occupied by Jordan and Egypt, respectively, since the 1948 founding of Israel . In 1980, Israel officially absorbed East Jerusalem and has proclaimed the whole of Jerusalem to be its capital . The inclusion, though never formally amounting to legal annexation, was condemned internationally and declared "null and void" by the United Nations Security Council . The Palestinian National Authority, the United Nations, the international legal and humanitarian bodies and the international community regard East Jerusalem as part of the West Bank, and consequently a part of the Palestinian territories . The Palestinian National Authority never exercised sovereignty over the area, although it housed its offices in Orient House and several other buildings as an assertion of its sovereign interests . </P> <P> Israel shut them down in response to the Sbarro restaurant suicide bombing . Israeli sovereignty, however, has not been recognized by any country, since the unilateral annexation of territory occupied during war contravenes the Fourth Geneva Convention . The cost of the occupation for Israel over four decades (1967--2007) is estimated to amount to $50 billion . The World Bank estimates the annual cost in 2013 to the Palestinian economy of Israeli occupation at $3.4 billion . </P>

Who owns the gaza strip and west bank