not everywhere· Economy· Updated 23 Oct, 23:28

Netanyahu Warns of Economic Sanctions, Suggests Crypto as Workaround

Prime Minister Benjamin Netanyahu has warned that Israel must prepare for potential Western banking and economic sanctions, as well as the eventual cessation of U.S. military aid. In interviews with the Economy Channel and Channel 10, Netanyahu stated that he has ordered officials to prepare a plan for alternative financial mechanisms, including blockchain and digital currencies, to bypass potential restrictions. He also cautioned that the substantial U.S. military aid secured in the past cannot be taken for granted due to political changes in America, predicting it is only a matter of time before the aid stops.

3 newsrooms · 2 languages · since 23 Oct, 18:43

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What happened

01Prime Minister Benjamin Netanyahu warned of potential Western banking sanctions and ordered plans for alternative financial systems, including blockchain and digital currencies.
02Netanyahu predicted the eventual end of U.S. military aid to Israel, urging the nation to prepare for this scenario.
03The Prime Minister disagreed with Bank of Israel Governor Amir Yaron regarding the economic impact of expanding the defense budget.
04Israel plans to boost domestic ammunition and weapon production utilizing a 400 billion shekel defense budget.
05Opposition leader Yair Lapid called Netanyahu's warnings "insane, but correct," predicting severe economic consequences if the current government is re-elected.
06A Jewish People Policy Institute survey revealed the United States has the highest number of recorded measures against Israel, totaling 15.
07Nir Hirshman of the Israeli Crypto Companies Forum stated that blockchain technology could help strengthen Israel's global financial connections.

Potential sanctions could severely impact Israel's high-tech exports, imports, and the cost of living, while banking restrictions could hinder international transactions. To address defense needs, Israel plans to increase domestic ammunition and weapon production with a 400 billion shekel budget. Netanyahu expressed strong disagreement with Bank of Israel Governor Amir Yaron, who has warned about the economic impact of expanding the defense budget.

Opposition leader Yair Lapid criticized the Prime Minister's statements, calling them "insane, but correct." Lapid warned that if Netanyahu's government is re-elected, U.S. military aid will stop and severe economic sanctions will be imposed. Meanwhile, Nir Hirshman, CEO of the Israeli Crypto Companies Forum, noted that Israel is a leader in blockchain development and suggested these technologies could strengthen the country's global financial connections.

Summarized by baba from the reports of 3 newsrooms. Updated 11:11

Latest report: N12. Read N12’s original