Boycotts against Israel begin to materialize
All Israel News Staff | Published: June 15, 2024
The threats of boycotts against the State of Israel and Israeli companies over the conflict in Gaza have become a reality in recent weeks. Several countries and corporations have severed ties with their Israeli counterparts, leading to significant impacts across the Israeli economy.
The boycotts against Israel are now manifesting in various sectors, highlighting the broader economic consequences of the ongoing geopolitical tensions.
Turkey, one of Israel’s major trading partners, announced last month that it was ending all commercial ties with Israel, including exports of construction materials, machinery, cars, rubber, plastic, health and agricultural products, minerals, and energy products. Israel has been importing goods from Turkey at a volume of approximately $5 billion per year.
Colombia, Israel’s main coal supplier, broke all ties with Israel last month, including a cessation of its coal exports, forcing Israel to seek alternative suppliers, including South Africa and Russia, Kazakhstan and Australia.
While China has not officially stated a boycott or sanctions against Israel, Chinese companies have notably begun making it difficult for Israeli companies to obtain the necessary goods.
“The Chinese are imposing a kind of sanction on us. They don’t officially declare it, but they are delaying shipments to Israel,” one unnamed senior figure in a factory told Ynet News as far back as December.
“They have various excuses and pretexts, such as requiring suppliers from China to obtain export licenses to Israel that did not exist before. Additionally, they demand that we fill out numerous forms, causing significant delays. This has never happened to us before. We are talking about many different types of components. In electronic products, there are tens of thousands of components, but if even one component doesn’t arrive, we cannot deliver the product,” he added.
Israel’s weapons industry is also facing severe boycotts, including a recent ban by French authorities from participating in the international arms exhibition “Eurosatory.” The tradeshow event, which opens next week in France, is a venue where Israel typically secures weapons contracts worth hundreds of millions of dollars.
“Conditions are no longer right to host Israeli companies at the Paris show, given that the French president is calling for the cessation of IDF operation in Rafah,” the French Defense Ministry said in a statement last month.
Furthermore, several companies have signaled their unwillingness to continue their current investments in Israel, with companies in Morocco and Bahrain reconsidering planned partnerships with Israeli firms.
Abu Dhabi National Oil, the state-owned oil company of the United Arab Emirates, will reportedly cancel its plan to purchase a 50% stake in Israel’s NewMed Energy, in partnership with British Petroleum.
In addition, several investment companies have announced they would not participate in tenders for establishing railway lines in Israel.
According to Securities Authority Chairman Sefi Zinger, foreign investors have withdrawn $9 billion from the Israeli stock market, including $3.7 billion from government bonds. This withdrawal, however, reportedly does not reflect boycotts or sanctions but economic predictions about the risks of investing in a nation at war.
While universities across the West have been pressured to divest from Israel by protesting students and activists, the CEO of the Israel-America Chamber of Commerce Oded Rose is optimistic about how American universities will respond.
“We believe U.S. universities will not change their investment policies in Israel or withdraw funds at this stage, partly because they are supported by many Jewish and non-Jewish donors alike, who oppose the violence of the protesters against Israel on campuses,” he said.
According to Ynet, “So far, only threats to cease support have been heard, except for a few announcements from European universities, mainly in Scandinavia. The damage has been minimal.”
Read more: BDS | BOYCOTT | ANTI ISRAEL
Latest
“What’s a house when you’ve lost a country?’ she says with a sigh.”
― Yasmina Khadra, The Attack
Deference to post author, some fantastic selective information.
Greetings from Idaho! I’m bored to tears at work so I decided to check out your site on my iphone during lunch break. I enjoy the info you present here and can’t wait to take a look when I get home. I’m shocked at how fast your blog loaded on my mobile .. I’m not even using WIFI, just 3G .. Anyways, awesome blog!
Definitely imagine that which you said. Your favorite reason appeared to be on the internet the simplest thing to bear in mind of. I say to you, I definitely get annoyed while other people consider issues that they plainly don’t realize about. You managed to hit the nail upon the top and also defined out the whole thing with no need side effect , other folks could take a signal. Will probably be back to get more. Thank you
Very nice post. I just stumbled upon your blog and wished to say that I’ve truly enjoyed surfing around your blog posts. In any case I will be subscribing to your feed and I hope you write again very soon!
Howdy very cool website!! Guy .. Excellent .. Wonderful .. I’ll bookmark your website and take the feeds alsoKI am happy to find so many useful information here within the submit, we want work out extra techniques in this regard, thanks for sharing. . . . . .
Hey, you used to write wonderful, but the last several posts have been kinda boringK I miss your tremendous writings. Past several posts are just a little out of track! come on!
Hello. splendid job. I did not expect this. This is a great story. Thanks!
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
It’s in reality a great and useful piece of information. I am happy that you shared this helpful info with us. Please stay us up to date like this. Thank you for sharing.
I truly appreciate this post. I¦ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thx again
of course like your website but you have to take a look at the spelling on several of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth nevertheless I will certainly come again again.
What i don’t understood is if truth be told how you’re now not really a lot more neatly-liked than you may be now. You are very intelligent. You recognize therefore considerably in relation to this matter, produced me for my part believe it from numerous varied angles. Its like women and men don’t seem to be involved unless it’s something to do with Lady gaga! Your own stuffs nice. All the time handle it up!
Thank you for sharing superb informations. Your website is so cool. I am impressed by the details that you have on this blog. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for more articles. You, my friend, ROCK! I found just the info I already searched all over the place and just couldn’t come across. What a perfect web-site.
Please let me know if you’re looking for a author for your site. You have some really good posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d really like to write some material for your blog in exchange for a link back to mine. Please shoot me an email if interested. Many thanks!
Good write-up, I am regular visitor of one?¦s site, maintain up the nice operate, and It’s going to be a regular visitor for a lengthy time.
Hi there, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam comments? If so how do you protect against it, any plugin or anything you can recommend? I get so much lately it’s driving me insane so any assistance is very much appreciated.
Very interesting information!Perfect just what I was searching for!
Thank you for another informative blog. Where else could I get that kind of information written in such an ideal way? I’ve a project that I am just now working on, and I’ve been on the look out for such info.
This is a very good tips especially to those new to blogosphere, brief and accurate information… Thanks for sharing this one. A must read article.
Real excellent visual appeal on this site, I’d rate it 10 10.