Turin, 23 Oct. (LaPresse) – Israel should prepare its economy and banking sector for the possibility of severe international sanctions. Prime Minister Benjamin Netanyahu made this statement in an interview with Channel 10, speaking about the repercussions such measures could have on the Israeli economy, particularly in light of the extensive British sanctions against the settlements announced last month. “Of course I am concerned,” said Netanyahu, suggesting that the tens of billions of dollars in US aid earmarked for the defence budget might no longer be forthcoming. “Get used to the idea: America has changed. Not because Israel has changed. It’s over, and it really will be over: it’s just a matter of time.” Netanyahu had previously stated that Israel should commit to gradually reducing its dependence on US military aid, until it is eliminated entirely. “We must realise that there could be sanctions. And banking sanctions mean that we need to organise an alternative economy capable of circumventing them,” he said, pointing to the possibility of using “currencies that allow us to circumvent these restrictions”, including cryptocurrencies based on blockchain technology. Blockchain is “one of” the options Israel is considering to circumvent any such sanctions, Netanyahu added, noting that he had “already asked for a plan to be drawn up for this purpose”.
Middle East, Netanyahu: ‘Israel must prepare for an alternative economy to counter sanctions’
Turin, 23 Oct. (LaPresse) – Israel should prepare its economy and banking sector for the possibility of severe international sanctions. Prime Minister Benjamin Netanyahu made this statement in an interview with Channel 10, speaking about the repercussions such measures could have on the Israeli economy, particularly in light of the extensive British sanctions against the settlements announced last month. “Of course I am concerned,” said Netanyahu, suggesting that the tens of billions of dollars in US aid earmarked for the defence budget might no longer be forthcoming. “Get used to the idea: America has changed. Not because Israel has changed. It’s over, and it really will be over: it’s just a matter of time.” Netanyahu had previously stated that Israel should commit to gradually reducing its dependence on US military aid, until it is eliminated entirely. “We must realise that there could be sanctions. And banking sanctions mean that we need to organise an alternative economy capable of circumventing them,” he said, pointing to the possibility of using “currencies that allow us to circumvent these restrictions”, including cryptocurrencies based on blockchain technology. Blockchain is “one of” the options Israel is considering to circumvent any such sanctions, Netanyahu added, noting that he had “already asked for a plan to be drawn up for this purpose”.