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Possible EU sanctions alarm Israeli banks

Following the recommendation of a prominent think tank, Israeli investors fear that the European Union will decide to "mark" Israeli banks that operate in the West Bank, devastating the entire Israeli banking system.
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A few weeks ago, the European Council on Foreign Relations, a prominent international think tank, released a paper recommending that European banks and the European banking system at large boycott the Israeli banks that operate in what it called the “occupied territories.” The release of that document set off a wave of angry protests in Israel. The EU tends to adopt the council’s recommendations, so Jerusalem saw it as a significant escalation in the campaign of boycotts and embargoes against Israel.

In response, the EU invested considerable effort into assuaging Israel’s fear. After the document was published, official sources in the EU reportedly said that they are not considering adopting the recommendations listed in the position paper. Sources in the EU’s offices in Israel reportedly said that they have it on authority from Brussels that the EU does not plan to take action against Israeli banks operating across the Green Line.

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