Turkish President Recep Tayyip Erdogan delivers a speech during the extraordinary summit of the Organization of Islamic Cooperation (OIC) in Istanbul, Turkey, on Dec. 13, 2017. Turkish President Recep TayyipErdogan on Wednesday urged the Islamic world to recognize Jerusalem as the capital of Palestine, while Palestinian President Mahmoud Abbas refused any U.S. involvement in the peace process. (Xinhua/Anadolu Agency)

ISTANBUL, Dec. 15 (Xinhua) -- Turkish President Recep Tayyip Erdogan said on Friday that Turkey is launching a new initiative at the United Nations to force the cancellation of U.S. decision to recognize Jerusalem as the capital of Israel.

"First we will seek the annulment of the decision at the UN Security Council, and if that fails with a veto, the next step will be to apply to the UN General Assembly," Erdogan said in his video address to a rally over Jerusalem in central Anatolian city of Konya.

The president said Islamic countries are setting up new funds to protect Palestinian families. "With these funds we will support our brothers and sisters in every area, and we will protect Muslim neighborhoods, homes and businesses from being seized by Israel," he added.

In addition, the Muslim world is launching new initiatives to increase international recognition of the State of Palestine, Erdogan said, without disclosing details.

According to the president, currently 137 countries have recognized the State of Palestine. "God willing, this number will increase by courtesy of our efforts," he said.

The Organization of Islamic Cooperation, following an extraordinary summit in Istanbul on Wednesday, recognized East Jerusalem as the capital of the State of Palestine, a long-held dream of the Palestinians, in respond to the U.S. decision in favor of Israel.

A day after the summit, Turkey unveiled its intention to open its embassy in East Jerusalem.

The status of Jerusalem is among the core issues related to the moribund Israeli-Palestinian peace process.