Urgent Banking Bridge for Israel-Palestine Trade

Germany, France, and Britain urge the renewal of correspondent banking services between Israel and the Palestinian Territories for at least one year, warning that failure to do so could halt cross-border trade and severely impact the Palestinian economy.

In a joint appeal, Germany, France, and Britain have called for the immediate renewal of correspondent banking services linking Israel with the Palestinian Territories. The German foreign office emphasized the necessity of continuing these services for at least another year to sustain economic activities in the region.

The foreign office warned that not renewing these banking services could lead to the suspension of cross-border trade, which would be disastrous for the Palestinian economy. This warning came through a statement shared on the social media platform X.

The potential halt in vital financial transactions poses a significant threat to the economic stability of the Palestinian Territories, underscoring the importance of diplomatic intervention to prevent a looming financial crisis.

(With inputs from agencies.)