US EditionIsraeli Financial Move: Cooperation Waiver Canceled
- Israeli Finance Minister Bezalel Smotrich cancelled on Tuesday the waiver that allowed Israeli banks to cooperate with Palestinian banks in the West Bank.
- The cancellation came shortly after five Western countries imposed sanctions on Smotrich and fellow far-right minister Itamar Ben-Gvir, accusing them of provoking unrest in the West Bank.
- The waiver protected Israeli banks from legal risks linked to transactions with Palestinian banks, which depend on it due to the Palestinian Authority's lack of a central bank and currency.
- Smotrich explained that his decision was a response to the Palestinian Authority's efforts to undermine Israel's legitimacy on the international stage, while US Treasury Secretary Janet Yellen cautioned that this action could lead to a severe humanitarian crisis.
- Ending the waiver threatens to paralyse Palestinian financial institutions and escalate economic hardship amidst ongoing political tensions and international criticisms.
27 Articles
27 Articles
What an ostrich and Bezalel Smotrich have in common
This week, finance minister and security cabinet member Bezalel Smotrich invoked the 'I don't know' clause to avoid accountability. He learnt this from Netanyahu, who's built the coalition's most infamous reputation for not-so-plausible deniability
Smotrich moves to halt key banking protection for Palestinian economy
Finance minister cancels Israeli indemnity for Palestinian banks following Western sanctions, risking financial fallout in Judea and Samaria. By David Brummer, World Israel News Israeli Finance Minister Bezalel Smotrich has ordered the cancellation of a crucial financial safeguard that enables the Palestinian banking system to function, following sanctions imposed on him by five Western nations, according to the UK newspaper The Times on Wednesd…
Israel cancels waiver for Israeli‑Palestinian bank ties
Israel cancelled a waiver on Tuesday that had allowed Israeli banks to work with Palestinian ones, threatening to paralyse Palestinian financial institutions, Israel's finance minister, Bezalel Smotrich, said in a statement. "Against the backdrop of the Palestinian Authority's delegitimisation campaign against the State of Israel internationally, Finance Minister Bezalel Smotrich has instructed Accountant General CPA Yali Rothenberg to cancel th…
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