Financial Crime World

ISRAELI DOMINATION OVER PALESTINIANS CONTINUES TO INTENSIFY

Israeli State Budget Allocates Billions to Illegal Settlements

In a disturbing turn of events, Israel’s state budget for May 2023 has allocated billions of shekels to the construction and maintenance of illegal settlements in occupied Palestinian territory (OPT). This move further entrenches Israel’s grip on the region and perpetuates its system of apartheid against the Palestinian people.

History of Perpetuating Apartheid

The Israeli government has long been accused of establishing a system of apartheid against the Palestinian people. The ongoing violence perpetrated by organized settler groups, backed by Israeli forces, has resulted in the forced displacement and transfer of Palestinians from their homes. This is a clear violation of international law and human rights.

Recent Developments Escalate Tensions

In March 2023, Israeli Minister of Finance Bezalel Smotrich publicly called for the destruction of the Palestinian town of Huwara. Deputy Head of the “Samaria Regional Council” echoed his sentiments. In October 2023, National Security Minister Itamar Ben Gvir announced the distribution of thousands of M-16 rifles among Israeli settlers, further escalating tensions.

International Law Condemns Illegal Settlements

The illegal settlement enterprise has been condemned by international law and human rights organizations as a flagrant violation of the Fourth Geneva Convention and the Rome Statute of the International Criminal Court. Despite this, multinational corporations and financial institutions continue to provide financial support to these illegal settlements, enabling them to thrive.

New Report Reveals Involvement of European Financial Institutions

A new report from the DBIO Coalition reveals that 51 business enterprises have links to Israel’s illegal settlement enterprise in the OPT, with financial relationships with one or more European financial institutions (FIs). The report highlights the involvement of 39 European creditors in providing loans and underwriting services to these companies.

Recommendations for Action

The DBIO Coalition is calling on European FIs to end their involvement in Israel’s illegal settlement enterprise and respect their obligations under international law. The report provides recommendations for business enterprises, FIs, and national authorities to take action and address these violations.

Holding Israel Accountable

As the world continues to grapple with the ongoing crisis in Palestine, it is essential that we hold accountable those who perpetuate this injustice. We must demand an end to Israel’s illegal settlements and apartheid policies, and support the Palestinian people in their struggle for freedom and self-determination.

Key Points:

  • Israel’s state budget has allocated billions of shekels to the construction and maintenance of illegal settlements in occupied Palestinian territory.
  • The Israeli government has been accused of perpetuating a system of apartheid against the Palestinian people.
  • Recent developments have escalated tensions, including calls for destruction of Palestinian towns and distribution of weapons among settlers.
  • International law condemns the illegal settlement enterprise as a violation of human rights and international law.
  • A new report reveals involvement of 51 business enterprises with links to Israel’s illegal settlement enterprise in the OPT.