Israel Finance Minister: beggar who makes demands
(MENAFN) Israel’s Finance Minister Bezalel Smotrich has instructed the country’s banks to continue offering services to Israeli settlers sanctioned by the European Union, despite the legal and financial risks involved. He warned that financial institutions refusing to comply could face significant penalties in the form of compensation claims.
The EU imposed sanctions in July of last year targeting five individuals and three organizations from Israel, citing their involvement in “serious and systematic human rights abuses against Palestinians” in the occupied West Bank—a territory recognized internationally as part of Palestine. The measures included a travel ban across EU countries, asset freezes, and a prohibition on supplying any financial or economic support to those sanctioned.
On Wednesday, Smotrich posted on X that he had issued a formal directive to the head of Israel’s banking oversight authority, Dani Khachiashvili, demanding an end to what he described as a “zero risk” policy adopted by local banks. He claimed this overly cautious approach has effectively cut off Israeli customers under the pretense of obeying foreign sanctions.
Calling the EU’s measures “unjust,” Smotrich accused the country’s banks of acting timidly and too readily adhering to external directives at the expense of Israeli citizens. He argued that financial institutions possess the legal and strategic means to challenge the EU’s sanctions, including initiating lawsuits and leveraging their international business ties.
The finance minister, known for his hardline political stance, signaled that Israel’s government may take a more aggressive approach in resisting external pressure, particularly when it affects settlers in the West Bank. His statement reflects growing tensions between Israel and the EU over the treatment of Palestinians and the legality of settlements in disputed territories.
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