Aquino said he was weighing a proposal made by his foreign secretary to withdraw all 342 Filipino UN peacekeepers, which will be discussed at a security meeting later today.
The recommendation follows two separate abductions and shelling by Syrian rebels inside the UN-patrolled demarcation line separating Syria from the Israeli-occupied plateau. Two peacekeepers from the Philippines and India were wounded last week during fighting between Syrian government and rebel forces.
Croatia withdrew in March for fears its troops would be targeted.
"There are a lot of countries pulling out. There is heightened fear that if the whole UN detachment or the UN forces there pull out, there will be no buffer between Israel and Syria," Aquino said, adding that if that happens, "the two forces will draw closer ... And there will be a flare-up of hostilities again."
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Aquino said that the changes he was looking for included additional equipment and enhanced security for the peacekeepers, and different rules of engagement.
Russian President Vladimir Putin last week offered to send Russian troops to the Golan Heights to replace the Austrians, but this was quickly shot down by Josephine Guerrero, a spokeswoman for the UN peacekeeping department. She said that the disengagement agreement does not allow the participation of troops from a permanent member of the UN Security Council.