Israel says there must be a peace agreement with Palestine before there can be consideration given to any RoR.
Think about ….
Under the most basic Right of Return required of any state, a) the country of return has right of final veto on individuals and; b) those accepted are all required to agree to live in peace. They would then become; c) Israeli citizens! d) They would not be citizens of the Palestine with whom Israel has the peace agreement!
Furthermore, it is an individual right to decide to return or accept compensation. The PA/PLO/an Independent State of Palestine can only legally argue that RoR be respected on behalf of the individuals concerned. Any agreement curtailing those rights could set a ghastly precedent which could effect all RoR for all refugees and the right to self determination.
BTW This is the definition of a refugee used in UNGA Res 194. Interesting reading! It included Jewish refugees at the time.