Netanyahu Warns of Sanctions, Explores Digital Currency Options

Prime Minister Benjamin Netanyahu has expressed concern over potential sanctions targeting Israel's banking system and revealed he has requested a plan to explore the use of digital currencies as a contingency. He also anticipates the end of current U.S. security aid, stating, "America has changed."

In an interview, Netanyahu acknowledged fears of international sanctions impacting Israel's financial sector. He disclosed that he has asked for a plan to address potential economic restrictions, including the examination of digital currencies. "You need to organize an alternative economy. And you know what it is. You know what digital currencies are, and I am working on that too. And there are other things as well," he stated, confirming that blockchain technology is one of the potential alternatives being considered.

The Prime Minister did not provide details on the plan's specifics, involved bodies, or activation conditions, indicating it is a preparatory measure for future restrictions rather than an immediate shift to digital currencies. He also discussed the evolving relationship with the United States, predicting that the substantial security aid Israel has received in the past will not continue indefinitely. "If you think we will continue to receive what I brought twice, and that is tens of billions of dollars of American aid for the defense budget, get used to it not happening because America has changed. It's over, it's only a matter of time," he said.

These remarks come amid an increase in economic and political measures against Israel globally. A database from the Jewish People Policy Institute (JPPI) documents 121 restrictive measures in 62 countries, with 93 currently in effect. The financial sector accounts for the largest category with 40 measures, followed by security, defense, and trade with 24 each. Spain has the highest number of measures with ten, followed by the United States with eight, the United Kingdom with seven, and Belgium and Turkey with five each. JPPI emphasizes that the number of measures does not necessarily reflect their severity or economic impact.