UK Considers Sanctions on Israeli Banks Over West Bank Construction

Britain is reportedly considering a significant escalation of sanctions against Israel in the coming months, according to senior UK sources speaking to Channel 12 News. Among the potential measures being discussed is the imposition of sanctions on Israeli banks that finance or provide mortgages for construction beyond the "Green Line," the pre-1967 border, as well as possible restrictions on retail chains.

This potential move follows an intensified diplomatic dispute sparked by British Foreign Secretary Ed Miliband's decision to impose new sanctions in response to construction in the E1 area, a sensitive zone between Jerusalem and the West Bank settlement of Ma'ale Adumim. Initial British steps included a ban on purchasing products from settlements, restrictions on arms exports, and sanctions against entities involved in financing and construction in these areas.

In response to the British actions, Israeli Foreign Minister Gideon Sa'ar ordered the closure of the British Consulate in Jerusalem within a month and demanded that British representatives at the international headquarters in Tel Aviv depart within a week. British sources have criticized these Israeli retaliatory measures, while Israel has described its response as proportionate to what it views as extreme criticism from Britain.

Sa'ar has rejected Miliband's claims regarding E1 construction, asserting that the British move contradicts historical facts, harms tens of thousands of Palestinian workers, and constitutes an unacceptable intervention in Israel's election campaign for internal political reasons. Beyond closing the consulate, Israel's measures include expelling British representatives from the international aid center for Gaza in Kiryat Gat, halting the British training team for Palestinian Authority forces in Yish, and barring entry to Israel for 12 British public figures and citizens involved in anti-Israel activities.

The Foreign Minister emphasized that the British government is pursuing a unilateral and discriminatory policy that encourages antisemitism while ignoring the Palestinian Authority's support for terrorism. He warned that the Palestinian Authority itself would not be immune to repercussions for its involvement. Sa'ar concluded with a clear message to all world governments: Israel will not yield to external pressure, and any country acting against its national and security interests will face decisive countermeasures that will impact its regional influence.