Netanyahu Warns Israel Could Face Banking Sanctions, Prepares Alternative Financial System
He said digital currencies and blockchain could help Israel cope if banking restrictions or other sanctions widen, while U.S. defense aid may not continue.
- On Friday, Israeli Prime Minister Benjamin Netanyahu announced he requested a plan to use blockchain technology to help Israel counter potential banking sanctions. "Of course I'm concerned," Netanyahu said, "You need to prepare an economy that can get around them."
- A database by the Jewish People Policy Institute tracks 139 international measures against Israel across 64 countries, with 111 currently active in finance, defense, and trade sectors, according to its October 18 snapshot.
- More than 60 economists and former officials warned earlier this week that international sanctions threaten the Israeli economy, citing Britain's plan to restrict settlement imports and risks from extremist violence against Palestinians.
- Netanyahu also warned that Israel should prepare for the eventual end of American military assistance, stating, "America has changed," and predicting the cessation of tens of billions of dollars in defense funding.
- Nir Hirschman, CEO of the Crypto Companies Forum, welcomed blockchain development on Friday but warned that public networks are transparent and "not a haven for hiding money," countering potential misconceptions.
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Netanyahu warns of banking sanctions on Israel, floats crypto as possible bypass
The prime minister also told Israelis to 'prepare yourselves' for U.S. aid to end, saying that 'the United States has changed. It's over, and it will come to an end. It's only a matter of time'
Israeli Prime Minister Benjamin Netanyahu has called on the Israeli leadership to prepare the country's economy and banking sector to operate under severe international sanctions. In a recent interview, the prime minister also said that Israel should consider alternative economic solutions, including the use of cryptocurrencies, the Times of Israel reported.
Israel must prepare itself for the possibility of being subjected to severe international sanctions, stated Israeli Prime Minister Benjamin Netanyahu. "Of course, I am concerned about that prospect," quoted The Times of Israel as the premiere's words in Channel 10's interview in response to a question about the possibility of such sanctions. "You must understand that sanctions are possible.
‘Get used to it’: Netanyahu warns US military aid will end, eyes blockchain to bypass
Days before Israel's election, the prime minister says he has ordered plans for alternative financial arrangements amid fears of banking restrictions and warns that decades of American defense assistance will not continue indefinitely
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