Finance Minister Silent on PM's Crypto Plan Amid Sanctions Fears
Translated & summarized from Srugim by baba
Prime Minister Benjamin Netanyahu suggested Israel might use cryptocurrency to bypass future economic sanctions, a statement met with concern and a direct rebuttal from Bank of Israel. Finance Minister Bezalel Smotrich has remained silent on Netanyahu's crypto proposal, despite responding to other political issues, sparking questions among political observers. This comes as Britain considers sanctions against Israeli ministers, and the Netherlands has already imposed import restrictions.
The story in 5 lines · by baba
- Prime Minister Netanyahu suggested Israel might use cryptocurrency to bypass future economic sanctions.
- Bank of Israel officially stated that digital currencies cannot bypass international sanctions.
- Finance Minister Bezalel Smotrich has not commented on Netanyahu's crypto proposal.
- Political sources question Smotrich's silence on the sensitive economic issue.
- Britain is reportedly considering sanctions against Israeli ministers, including asset freezes.
Finance Minister Bezalel Smotrich has yet to comment on Prime Minister Benjamin Netanyahu's assertion that Israel may need to bypass international sanctions using cryptocurrency and other methods, a statement that has raised concerns about the country's economy. Netanyahu stated in an economic channel interview that "in the coming years, we will have to deal with economic sanctions, there will be no banks, we will have to work with a bypass economy of crypto and others."
Bank of Israel has officially responded to Netanyahu's dramatic prediction, clarifying that digital currencies cannot serve as a workaround for international sanctions. This unusual move by the central bank underscores the gravity of the situation, especially as Israel faces complex economic and international challenges, including reports of actions against Iran's financial network in Gulf states.
Smotrich's silence on the crypto issue is particularly notable because he has already responded to other political statements, including remarks by Yair Golan regarding the closure of a pre-military academy. Political sources are questioning why the Finance Minister, responsible for the nation's economic policy, chose to remain silent on such a sensitive topic, especially after the Bank of Israel's firm stance.
The context for Netanyahu's remarks includes potential sanctions from Western countries. Reports indicate that Britain is considering sanctions against Smotrich and Minister of National Security Itamar Ben-Gvir, which could include freezing their assets and blocking access to British bank accounts. The Netherlands has already imposed sanctions and an import ban on products from Judea and Samaria, suggesting a broader trend of economic sanctions from Europe.
Mentioned
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Centre 2Right 1
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.
