Washington: President Joe Biden has officially nominated Jacob Lew, the former Treasury secretary with extensive government experience, to assume the role of the U.S. ambassador to Israel, according to a White House announcement on Tuesday.

Jacob Lew's distinguished career spans multiple administrations. He served as White House chief of staff and director of the Office of Management and Budget (OMB) during the Obama administration.

During the Clinton administration, he also held the position of OMB director. Furthermore, he served as deputy secretary of State for management and resources in the Obama administration.

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Should Lew receive Senate confirmation, he will step into one of the most high-profile ambassadorial roles, succeeding Ambassador Tom Nides, who vacated the position in July. 

This appointment comes at a crucial time as the Biden administration actively seeks to enhance relations with two major Middle East powers, Israel and Saudi Arabia, despite their historical rivalry.

Efforts to strengthen ties with these nations follow the Trump administration's successful facilitation of the "Abraham Accords," which led to the normalization of relations between Israel and the United Arab Emirates, Bahrain, and Morocco. 

Securing a similar agreement with Saudi Arabia, the most influential and prosperous Arab state, could have transformative consequences for the region and bolster Israel's geopolitical position. 

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However, achieving such a pact remains challenging, given the Kingdom's stance that it won't officially recognize Israel until a resolution is reached in the long-standing Israeli-Palestinian conflict.

In recent times, there have been moments of tension in the U.S.-Israeli relationship. Differences emerged between President Biden and Israeli Prime Minister Benjamin Netanyahu regarding the Israeli government's right-wing legislation passed in July. 

This legislation curtailed the authority of Israel's top court and transferred power to the parliament, triggering months of nationwide protests and criticism from some U.S. lawmakers.

Jacob Lew, often referred to as Jack, possesses prior experience working with Israelis through his various government roles. During the Clinton administration, he was instrumental in developing a memorandum of understanding for multi-year funding for Israel. Additionally, during the Clinton and Obama administrations, he played a key role in funding Israeli missile defense systems.

Senate Majority Leader Chuck Schumer, D-N.Y., voiced support for Lew's nomination, citing his diplomatic expertise and wealth of experience, which are expected to maintain the strength of the U.S.-Israel partnership.

After his tenure in the Obama administration, Lew criticized Netanyahu's 2015 speech to a joint session of Congress, which was conducted without White House notification.

In that speech, Netanyahu strongly opposed the Iran nuclear agreement, one of President Obama's signature foreign policy goals. Lew described the speech as "beyond the pale" and a "huge mistake for Israel."

Jacob Lew is currently a managing partner at Lindsay Goldberg, a private equity firm, and serves as a visiting professor at Columbia University in New York. 

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While Lew's spokeswoman has not provided immediate comments on his nomination, it's clear that his extensive background in international relations positions him well for this critical diplomatic role.

Mark Mellman, President and CEO of Democratic Majority for Israel, believes that Jacob Lew's nomination signifies a strong understanding of the complexities of international relations and the pressing issues facing both Israel and the U.S.-Israel alliance. 

In addition to his ambassadorial role, Lew serves as chairman of the board of the National Committee on United States-China Relations, co-president of the board of the National Library of Israel USA, and is a member of the Council on Foreign Relations. Lew has also held leadership positions in the private sector and academia.