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Netanyahu's Shift: From Economic Growth to Sanctions Workarounds
Israeli Prime Minister Benjamin Netanyahu is reportedly preparing the country to circumvent potential sanctions using blockchain and digital currencies, rather than focusing on prevention.
2 newsrooms · 2 languages · since
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What happened
- 01Prime Minister Netanyahu is exploring blockchain and digital currencies to circumvent potential sanctions.
- 02Journalist Liat Ron criticizes the focus on circumvention over prevention of sanctions.
- 03Netanyahu previously spoke of adapting to an economy less reliant on the outside world.
- 04Blockchain and digital currencies cannot replace global banking or override trade bans.
- 05Israel's economy is highly dependent on international trade and cannot withstand isolation.
- 06Over 60 economists have warned of the potential economic damage from expanding sanctions.
Journalist Liat Ron criticizes this approach, arguing that while contingency planning is necessary, the focus should be on restoring international relations and trade. Ron highlights that these technologies cannot overcome trade bans or the global banking system's restrictions, and contrasts Netanyahu's current stance with his earlier pro-free market policies. She emphasizes that Israel's economy, unlike Russia's or Iran's, cannot withstand isolation.
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