The Palestinians have drafted a U.N. Security Council resolution calling for an end to the Zionist occupation by November 2016, which they have shared informally with Arab states and some council members, U.N. diplomats said on Wednesday.

World Bulletin news website reported that the text has not been formally circulated to the full 15-nation Security Council, and it remains unclear when, and if, it will be put to a vote.

It calls for "the full withdrawal of Israel ... from all of the Palestinian territory occupied since 1967, including East Jerusalem, as rapidly as possible and to be fully completed within a specified timeframe, not to exceed November 2016."

"We are aware of President Abbas' plan and we continue to believe, to strongly believe, that the only way to a negotiated solution is through negotiations between the two parties," U.S. Ambassador to the United Nations Samantha Power told reporters on Tuesday.

During his speech at the U.N. General Assembly on Friday, Palestinian President Mahmoud Abbas said there was no value in peace talks with the Zionist entity unless the goal is ending its 47-year occupation within a "firm timetable."

In the same speech, Abbas also accused the entity of genocide during the latest assault on the Gaza Strip which ended with an Egyptian-brokered ceasefire late August.