To be directed by Eran Riklis, the film has been written by Gidon Maron and Emmanuel Nakkache inspired by true events, reported Variety.
The film follows the story of a highly-lauded secret agent, Adereth, who is deemed to be past his prime by his superiors.
Haunted by his past, a last-minute redemption opportunity presents itself when he discovers a lead to the sales of chemical weapons to a Middle-Eastern dictatorship.
Kingsley, 74, will play Adereth, while Bellucci, 53, will be his enigmatic target Angela. The film will also star Israeli actor Itay Tiran, who will play the role of Mossad agent Daniel.
Shooting will commence this spring in Belgium and the Netherlands.
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