EU Leaders Warn Financial Institutions Against Funding Settlements
Translated & summarized from Haaretz by baba
The European Council warned financial institutions against funding Israeli settlement construction ahead of a tender deadline in the E1 area. Contractors were also cautioned about legal, economic, and reputational risks if they bid on the project. The warning required approval from all EU leaders and follows new UK sanctions targeting settlement expansion.
The story in 5 lines · by baba
- The European Council warned financial institutions against funding Israeli settlement construction.
- The warning was issued days before a construction tender deadline in the E1 area.
- Contractors were advised to avoid the E1 tender due to legal, economic, and reputational risks.
- The warning required approval from all European Union leaders.
- The announcement follows new UK sanctions against settlement expansion activities.
The European Council issued a warning to financial institutions on Friday, cautioning them against financing the construction of Israeli settlements. This announcement comes just days before the deadline for a construction tender in the E1 area. Contractors were also advised to avoid bidding on the E1 tender due to potential "legal, economic, and reputational risks."
While several Western nations have used similar language recently, this particular warning required the approval of all EU leaders, as it was issued by the European Council, the body representing the heads of state of the European Union. The announcement follows the implementation of a new sanctions regime in the United Kingdom on Thursday, which allows for sanctions against individuals and entities involved in settlement expansion.