Report Reveals European Firms Have More Than $255B Entwined in Illegal Israeli Settlements

OCCUPIED WEST BANK, PALESTINE — Nearly 700 European firms have financial ties worth $255 billion with businesses actively involved in Israeli settlements, according to a new civil society report. The Don’t Buy Into Occupation (DBIO) coalition is a joint project between 25 Palestinian and European non-governmental organizations investigating the business connections between companies operating in illegal Israeli settlements in the Occupied Palestinian Territories (oPT) and European financial institutions. The coalition’s latest research found 672 European financial institutions had relationships with 50 businesses participating in Israel’s settlement economy. Between 2018 and May 2021, major European firms provided loans and underwritings amounting to $114 billion to these businesses while investing $141 billion. “The involvement of these corporations with the settlements — through investments, banking loans, resource extraction, infrastructure contracts, and equipment and product supply agreements — provides them with the indispensable economic oxygen they require to grow and thrive,” Michael Lynk, UN Special Rapporteur on the Situation of Human Rights in the Palestinian Territory Occupied since 1967, wrote in the report.   The findings The DBIO coalition found that the top 10 creditors collectively gave $77.81 billion to businesses involved in the Israeli settlements. These firms are BNP Paribas, Deutsche Bank, HSBC,

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