Abbas also equated statements by Israeli officials with those of the infamous Nazi propagandist Joseph Goebbels.
The United Arab Emirates had been expected to push forward the resolution condemning Israeli settlement activity.
Members of the Security Council have been negotiating a draft resolution on Israeli settlements in the West Bank drafted by the United Arab Emirates in coordination with the Palestinians.
Netanyahu's first week in office has led to the UN Security Council convening a special meeting to publicly attack Israel, and the US joining in.
Palestinians want the UNSC, which is expected to meet tomorrow night, to adopt a resolution or publish a statement on the matter.