Abbas reportedly confirmed this in while speaking to Arabic daily A-Sharq al-Awsat, a london based medium, but he said the extension must be "aimed at the establishment of a Palestinian state with its capital in East Jerusalem," The Times of Israel reported.
Israel regards Jerusalem as its future capital.
Words and accusations were traded this week after Israeli Prime Minister, Benjamin Netanyahu announced a reduction of contacts with the Palestinian Authority - a unilateral act designed as a response to what Israel regarded as a unilateral action when Abbas' applied to join 14 agencies some of which are said to be associated with the United Nations.
Israel renounced the move and failed to release an expected 400 prisoners in exchange for extension of negotiations beyond April 29.
The recent announcement by the PA President is considered positive and raises hope that the peace talks will be back on track.
But according to ToI, a senior member of the PLO, denied the reports credited to Abbas over the extension of talks with Israel.
According to the Israel newspaper, "Wasel Abu-Youssef was quoted by Maariv saying that the Palestinian leadership had not yet met to deliberate on the matter and that there were conditions posed to the Israelis on which an extension of talks depended."
Palestinian leaders have threatened Israel with unilateral action if talks failed to produce results, saying the treaty applications were a first step in attempts to gain recognition of Palestinian statehood outside of bilateral negotiations.
US Secretary of State, John Kerry blamed both sides while Israeli leftist politician, MK Zahava Gal-On who is critical of PM Benjamin Netanyahu's government said he made a bad decision and gave the 'US the finger'.
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* Source: ToI.