Minister stops Israeli banks from working with Palestine

The Israeli finance minister has blocked a waiver which enables his nation’s banks to work with Palestinian banks, which could severely weaken the Palestinian economy, The National reported on June 11th. 

The cancellation of the waiver took place following the UK and other nations enforcing sanctions on the finance minister, Bezalel Smotrich. 

In May 2024, Smotrich had said that he would stop ties between the banks, in response to three European nations recognising a Palestinian state. A statement from Smotrich’s office said: “Accountant General CPA Yali Rothenberg [has been instructed] to cancel the indemnity provided to correspondent banks dealing with banks operating in Palestinian Authority territories.”

The National