If you want to push things back a bit further into history, maybe the British and the US agreed to turn the Oregon territory into a new Jewish homeland.
The Republic of New Zion (I know the name isn't imaginative), and then the Russians make the Jewish Autonomous Oblast in the early 20th century in a different location than RL and it successfully breaks away when the USSR is formed, becoming the Jewish Rus. Then after WWII and the Holocaust (the German Jews largely stayed in Europe since they didn't have major problems until the rise of Hitler) there is discussion about re-creating Israel in the ME but instead the Soviets take the former lands of Prussia and depopulate them of Germans and replace them with the survivors of the Holocaust. The People's Jewish Homeland becomes a Soviet satellite state very quickly.
Meanwhile the British create the Federal State of Israel and Palestine out of the Transjordan, the borders of which more or less correspond with the biblical borders of Israel, but consists of two federal 'states' called the Jewish State of Israel and the Arabic State of Palestine. While their economies and defense and foreign relations are shared, both states have broad internal powers. While the arrangement is unstable, in time it becomes clear that it's better than what the rest of the Middle East winds up having to deal with.