Netanyahu’s pitch: Can Israel use crypto to evade economic sanctions?
Summary
Benjamin Netanyahu said Israel should prepare to use cryptocurrency to bypass possible banking sanctions and reduce reliance on U.S. military funding. The Bank of Israel rejected the proposal, while the article notes that Israel’s banking system has not been sanctioned and that several countries have imposed measures linked to Israeli settlements.Key Facts
- Netanyahu proposed using blockchain-based cryptocurrency as an alternative to the international banking system.
- The Bank of Israel rejected Netanyahu’s proposal.
- Opposition parties criticized the plan, according to the article.
- The article says Israel’s banking system has not been targeted by sanctions.
- The United Kingdom and other major economies pledged coordinated measures against Israeli settlements in the occupied West Bank.
- The European Union has sanctioned people and groups linked to settlements.
- Spain, Ireland and the Netherlands have introduced restrictions on settlement goods.
- Netanyahu said Israel should prepare for less U.S. support after Donald Trump’s term ends.
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