Israeli Banks Fear Expanded Sanctions on Settlements Could Hurt Their Operations
5 Articles
5 Articles
Banks decline to clarify whether they will provide guarantees for contractors bidding on E1 settlement project in occupied West Bank
Israeli banks fear expanded sanctions on settlements could hurt their operations
The banks fear British sanctions could also target entities involved in settlement expansion. For now, they won't say whether they will guarantee contractors bidding on internationally condemned tenders for construction in the West Bank's E1 area
Occupied Jerusalem: An Israeli newspaper revealed on Wednesday that Israeli banks fear being targeted by new international sanctions, particularly those Britain intends to impose on entities linked to settlement expansion in the occupied West Bank. Haaretz reported that the Association of Banks in Israel prepared an assessment warning of the potential impact of the anticipated British sanctions on Israeli financial institutions, which could incl…
According to Haaretz, the Israel Banking Association warned that banks could be affected by potential UK sanctions targeting illegal settlements in the West Bank. The central bank expressed concern about the threat of sanctions.
Representatives of the Banks Association expressed concern to officials from the Ministry of Foreign Affairs and the Bank of Israel about future sanctions, especially those from Britain. According to the Banks Association's assessment, the sanctions may apply to them as they are partners in financing construction in settlements.
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