G7 financial leaders will call on Israel to maintain correspondent banking links between Israeli and Palestinian banks to enable vital transactions, trade and services to continue, according to a draft joint statement seen by Reuters on Saturday (25).
The statement, to be released at the end of a meeting of G7 finance ministers and central bank governors in northern Italy, also calls on Israel “to release withheld settlement proceeds to the Palestinian Authority, taking into account its fiscal needs.” urgent”.
The statement echoes a warning made on Thursday by US Treasury Secretary Janet Yellen, who said failure to renew a soon-to-expire bank exemption would cut a critical lifeline for the Palestinian territories amid a devastating conflict in Gaza.
“We call on Israel to take the necessary measures to ensure that correspondent banking services between Israeli and Palestinian banks remain operational, so that vital financial transactions and critical trade and services continue,” the draft statement read.
G7 financial leaders also called for the removal or easing of other measures “that have had a negative impact on trade to avoid further worsening the economic situation in the West Bank.”
Source: CNN Brasil
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