Israeli Banks Fear International Sanctions Over West Bank Settlement Funding
Translated & summarized from Haaretz by baba
Israeli banks fear that upcoming international sanctions, especially from the UK, could affect their operations by targeting entities involved in funding settlement construction. The Banks' Association has raised these concerns with the Ministry of Foreign Affairs and the Bank of Israel. Banks are hesitant to comment on providing guarantees for tenders in the E1 area, a move that has drawn warnings from Western nations.
The story in 5 lines · by baba
- Israeli banks fear international sanctions could target their involvement in funding settlement construction.
- The UK is reportedly planning sanctions that could impact financial institutions.
- Banks are concerned about providing guarantees for tenders in the E1 area between Jerusalem and Ma'ale Adumim.
- Several Western nations have warned against participating in these settlement tenders.
- The Bank of Israel shares the concerns raised by the Banks' Association.
Israeli banks are concerned that upcoming international sanctions, particularly those planned by the United Kingdom, could impact their operations. Representatives from the Banks' Association have voiced these fears to officials at the Ministry of Foreign Affairs and the Bank of Israel. The association estimates that sanctions might extend to financial institutions involved in funding settlement construction.
Specifically, banks worry that British sanctions could target entities participating in the expansion of settlements. They are currently unwilling to comment on whether they will provide guarantees for contractors bidding on tenders for construction in the E1 area, located between Jerusalem and Ma'ale Adumim. Several Western nations have already issued explicit warnings against participating in these tenders. The Bank of Israel has also expressed significant concern regarding the potential ramifications.
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