Israel offers cash to firms hit by trade ban; Europe dithers on new rules
Summary
The Israeli government will pay up to $54,000 to companies in illegal settlements affected by new European trade bans. Israel is also helping these companies find new markets in countries like India, the UAE, and Chile, as some European countries have started limiting settlement goods due to concerns over human rights abuses in the West Bank.Key Facts
- Israel plans to give up to 200,000 shekels ($54,000) to businesses in illegal settlements hit by European trade bans.
- A special team in Israel is helping these companies find alternative buyers outside Europe, including in the Philippines, India, UAE, Chile, and Argentina.
- Over 25 companies in settlements have already applied for assistance to adapt to the trade bans.
- Not all European countries are equally enforcing the boycotts; Spain, the Netherlands, and Ireland have started active bans, while others have only announced plans.
- The Netherlands has a strict ban stopping goods and services from illegal settlements and acts to prevent avoiding these rules.
- The UK and European Union together buy more than a third of Israel’s exports, so the bans could have economic effects.
- Experts say the Israeli government’s support helps cushion the impact and shows targeting only settlement goods might not stop trade because companies can shift to other markets.
- Some countries, like Belgium, have draft rules to ban settlement goods but have not yet put those rules into action.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
