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G7: Yellen talks of 'humanitarian crisis' if Israel cuts off Palestinian banks

US “Iron Lady” Janet Yellen fears a “humanitarian crisis” if Israel follows through on its threat to cut off Palestinian banks from accessing its own banking system, thereby blocking vital transactions in the occupied West Bank. “I am particularly concerned about Israel's threats to take measures that would cut off Palestinian banks from Israeli banks,” Yellen told a news conference at the start of a meeting of finance ministers of the Group of Seven (G7) most advanced industrialized nations. held in Stresa, Italy. Israeli Finance Minister Belazel Smotrich said Israel may not renew a waiver that expires on July 1 that allows Israeli banks to process payments in shekels for services and salaries for the Palestinian Authority. “These banking channels are critical in processing transactions that enable nearly eight billion dollars worth of imports annually from the […]
Source: News Beast

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