Lawmakers in the UK have urged British banks and financial institutions to avoid involvement in Israel’s planned E1 settlement expansion in the West Bank, despite pending legislation that would formally prohibit such transactions. A letter from cross-party MPs highlights the ethical and legal pressure on financial institutions to reassess their support for the project ahead of new restrictions. While UK laws banning trade with illegal settlements are expected to take effect in the coming months, the MPs argue banks must act now to prevent complicity. The move reflects growing political and financial scrutiny over Israel’s settlement activities in occupied territories.
MPs send out letter as Israeli government seeks bids for construction of large E1 settlement in West BankBritish banks and financial institutions are receiving written warnings from MPs that they should not invest in Israel’s E1 settlement project even though new UK laws banning trade with illegal settlements are unlikely to be in place for months.A letter was sent to banks on Tuesday by the all-party Britain-Palestine group of MPs saying the onus was now on banks to review their obligations not to cooperate with new settlements. Continue reading...
