UK More Vulnerable to Settlement Product Boycott Than Israel, Expert Says
Translated & summarized from Maariv by baba
A former Israeli economic envoy to the UK stated that Britain has more to lose from a potential boycott of settlement products than Israel does, estimating the direct economic impact on Israel to be limited.
The story in 5 lines · by baba
- UK and 12 nations plan settlement product boycott.
- Former envoy: UK more vulnerable to boycott than Israel.
- Direct economic impact on Israel estimated as limited.
- Boycott requires legislation, could take months.
- Britain dependent on Israel for security products.
Britain and 12 other countries have announced plans to boycott products originating from Israeli settlements. However, a former Israeli economic envoy to the UK, Shmuel Ben-Tovim, believes the direct economic impact on Israel will be limited, suggesting London has more to lose.
Speaking on 103FM, Ben-Tovim recalled past diplomatic crises, such as the 2010 Mavi Marmara incident, which caused temporary cooling of relations but were eventually overcome. He estimated Israel's annual exports to the UK at approximately $1.25 billion, with products directly from settlements accounting for only tens of millions of dollars.
Ben-Tovim also pointed out that the announced boycott requires new legislation, a process that could take months, during which circumstances might change. "Britain is dependent on us for many products, also in the security field," he stated.
He suggested that while Britain's political blow is immediate, Israel's economic repercussions might be delayed. Ben-Tovim highlighted the closure of the British consulate in Jerusalem as a very significant step, indicating that the full implications of these developments are yet to unfold.
