Israel Offers Cash to Settlement Companies Amid European Trade Bans
The Israeli government has announced plans to provide financial assistance to companies operating in illegal settlements after several European countries committed to banning their goods due to human rights abuses against Palestinians.
According to Roey Fisher, head of Israel's Foreign Trade Administration at the Ministry of Economy and Industry, the government will pay up to 200,000 shekels ($54,000) to affected companies.
The assistance also includes help finding alternative markets, with countries such as the Philippines, India, the United Arab Emirates, Chile, and Argentina listed as potential destinations.
Julie Norman, an associate fellow at Chatham House, noted that while the grants would provide a 'significant lift' for exporters, they may not fully offset lost sales in the short term.