Prime Minister Netanyahu orders preparation of alternative to banking sanctions — Jerusalem Post
Israeli Prime Minister Benjamin Netanyahu said he had instructed officials to prepare alternative financial mechanisms in case banking sanctions are imposed on the country. Among the possible solutions, he named blockchain technology, the Jerusalem Post reports.
In an interview with Channel 10, Netanyahu said Israel should be prepared for possible restrictions in the banking sector and create an alternative economic system. Asked whether blockchain could help circumvent economic sanctions, he replied that it was one of the options and added that he had already asked for a corresponding plan to be prepared.
Statement on US aid
Netanyahu also commented on future US military aid. According to him, Israel should not count on continuing to receive tens of billions of dollars in US support for the defense budget, which he claimed to have secured twice. The prime minister explained this by changes in the United States.
More current news is available on the UA.News Telegram channel Telegram.
In addition, the head of government rejected warnings by Bank of Israel Governor Amir Yaron about expanding the defense budget and the burden of defense spending on the Israeli economy. Netanyahu said he unequivocally disagreed with the central bank chief's assessment.
Reaction from the crypto community
Crypto Companies Forum CEO Nir Hirshman welcomed the interest in cryptocurrencies and blockchain, but stressed that these technologies are not a way to conceal money transactions. According to him, public blockchain networks make it possible to track transactions and ensure transparency.
The publication separately cites data from the Jewish People Policy Institute database, which tracks sanctions, restrictions and diplomatic measures concerning Israel. It records 15 such measures in the United States, 10 in Spain, eight in the United Kingdom, seven in Turkey and five in Belgium. Some of the measures recorded in the United States are legislative initiatives or draft resolutions, including those concerning restrictions on the sale of weapons and defense equipment to Israel.
