His speech yesterday at the United Nations General Assembly was seen as both an attempt to draw renewed focus to the Palestinian cause as well as a bid for leverage at a time when the world's attention is focused elsewhere.
Pulling out of previous agreements, including the landmark Oslo accords of the 1990s, could mean drastic moves such as dismantling the Palestinian Authority or ending security coordination with Israel.
"They leave us no choice but to insist that we will not remain the only ones committed to the implementation of these agreements, while Israel continuously violates them," he said.
"We cannot continue to be bound by these signed agreements with Israel and Israel must assume fully all its responsibilities as an occupying power."
Today, senior Palestinian official Mustafa Barghouti reiterated Abbas's declaration in an interview with AFP, saying the "Oslo accords are over. So are the rest of the agreements with Israel."
EU foreign affairs chief Federica Mogherini said she understood Abbas's declaration to be a conditional statement depending on Israel's actions.
"There is an if, and on that if we are going to have to work," she told reporters, while also saying the speech underscored the "urgency" to act now.
While laying out his argument at the UN, Abbas presented a bleak picture, pointing to the continued occupation of the West Bank, settlement expansion and Israel's blockade of the Gaza Strip.
He also spoke of the July 31 firebombing of a Palestinian home by suspected Jewish extremists that killed an 18-month-old boy and his parents.
The Palestinian Authority was created by the Oslo accords as a temporary governing administration designed to be in place for five years, when a final agreement would be negotiated. Instead, two decades have now passed.
Still, while Abbas's speech reflected Palestinian frustration, it contained few details.
"It's very hard to know what it would mean in practice, and the reason for that is because I don't think that's what it is about," said Jonathan Rynhold of the Israeli-based Begin-Sadat Centre for Strategic Studies. "It's about sending a signal."
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