A United Nations General Assembly vote could take place on Friday on a draft resolution to grant Palestine a full member status of the organization, Reuters reported on Tuesday.

Palestine's envoy will be putting forward the request, the news site said, adding that the draft would recommend to the UN Security Council to reconsider "the matter favorably." If passed, Palestine would claim full privileges akin to an official member, including voting rights.

The United States vetoed a UNSC vote last month to award Palestine full membership status in the UN despite a majority backing the draft.

The Israeli occupation's ambassador to the UN objected to the assembly's resolution, warning that nothing would change the current status quo.

"If it is approved, I expect the United States to completely stop funding the U.N. and its institutions, in accordance with American law," Gilad Erdan said on Monday.

Washington lobbied several nations to vote against the initial proposal after it earlier clearly announced its opposition to the Palestinian authority attempting to get a full UN membership, conditioning that it would only recognize a Palestinian state that negotiates its statehood via "Israel", citing the occupation's security concerns.

"It remains the U.S. view that the path toward statehood for the Palestinian people is through direct negotiations," said Nate Evans, spokesperson for the US mission to the UN.

"We are aware of the resolution and reiterate our concerns with any effort to extend certain benefits to entities when there are unresolved questions as to whether the Palestinians currently meet the criteria under the Charter," he added.

This comes as Israelis continue to build settlements in the occupied West Bank, which is recognized by the United Nations and Washington as "Palestinian territory," without facing any legal consequences or penalties.

The Knesset passed a draft government resolution last February rejecting any unilateral recognition of a Palestinian state. The resolution was passed with an overwhelming majority of votes, as 99 out of 120 Israeli lawmakers backed the legislation.

In 2011, Palestinian President Mahmoud Abbas launched a statehood application, which was not considered by the Security Council. However, the General Assembly granted observer status to the "State of Palestine" in the following year.

Any application for UN membership must first receive a recommendation from the Security Council, where the United States, "Israel's" primary supporter, and four other countries have veto power. It must then be approved by a two-thirds majority in the GA.