Financial Crime World

Sanctions Screening Guidelines in Palestinian Territory, Occupied

As international pressure mounts to alleviate the humanitarian crisis in Gaza, a handful of countries and activist movements have taken measures to sanction Israel or boycott its products.

Turkey’s Decision

Turkey has announced that it will not resume trade with Israel worth $7 billion annually until a permanent ceasefire and humanitarian aid are secured in Gaza. The decision was prompted by Israel’s “uncompromising attitude” and the worsening situation in Gaza’s southern Rafah region, according to Trade Minister Omer Bolat.

  • Turkey has already curbed exports of 54 product categories over what it said was Israel’s refusal to allow Ankara to take part in aid air-drop operations for Gaza.
  • All remaining trade between Turkey and Israel is now halted, with top Turkish exports including steel, vehicles, plastics, electrical devices, and machinery.

International Sanctions

In the United States, France, Canada, and the UK have imposed targeted sanctions on Israeli settlers accused of undermining stability in the West Bank. The sanctions typically freeze US assets of those targeted and bar Americans from dealing with them.

  • France has also mooted the idea of imposing more sanctions to pressure Israel to pull back its troops from Gaza and allow more humanitarian aid to reach displaced Palestinians.
  • French Foreign Minister Stéphane Séjourné said that France has multiple ways to utilize its influence, including imposing more sanctions if necessary.

Chile’s Decision

Chile has banned Israel from participating in the 2024 International Air and Space Fair and canceled all cooperation or training activities with Israel on Chilean territory. The government said it would no longer purchase any weapons, defense, or security systems from Israel.

Boycott, Divestment, and Sanctions (BDS) Movement

The BDS movement is also urging global sanctions against Israel, drawing inspiration from South Africa’s anti-apartheid movement. The movement has branches in 40 countries and advocates a boycott of Israeli sporting, cultural, and academic events, calling for pressure on foreign companies that “collaborate” with Israel.

  • Several apps are also helping consumers boycott businesses deemed to be supporting Israel and its war on Gaza.
  • These apps allow users to scan the barcode of any product and see its links to Israel, offering a choice of products consumers may buy instead.

Conclusion

These measures are part of an ongoing effort to pressure Israel to end its occupation of Palestinian territories and to provide humanitarian aid to those affected by the conflict.