Israeli Prime Minister Benjamin Netanyahu condemned the new US sanctions on Israeli settlers in the West Bank, viewing them “with utmost severity,” according to “NDTV.”
The sanctions, announced on Wednesday, target settler violence against Palestinians, a matter that has increasingly concerned the Biden Administration. The decision to impose sanctions comes amid Israel’s ongoing war with Hamas and a significant military operation in the West Bank that resulted in the deaths of nine Palestinians.
Netanyahu’s office released a statement expressing that the issue of sanctions is under pointed discussion with the US, emphasizing Israel’s discontent.
The US sanctions were imposed in response to the rising violence from extremist settlers, which the State Department described as causing intense human suffering and undermining the prospects for peace in the region, reported The Guardian.
Matthew Miller, State Department Spokesman, stressed the critical need for the Israeli government to hold individuals and entities accountable for such violence.
The Biden Administration’s sanctions particularly targeted Hashomer Yosh, an Israeli group supporting unauthorized settler outposts like Meitarim Farm in the South Hebron Hills.
Earlier this year, Hashomer Yosh fenced off a Palestinian village whose 250 residents had been forcibly displaced. Despite international criticism, the group describes itself as a volunteer organization that aims to “protect” Israeli farmers in the West Bank and stand strong against “agricultural crime.”
Netanyahu, who depends on far-right politicians advocating for the expansion of settlements on Palestinian land, expressed strong opposition to the US measures. He reiterated Israel’s stance that such sanctions against its citizens are unacceptable and have strained the relationship between the two nations.
The U.S. has also imposed sanctions on other extremist groups in Israel, such as Lehava, which the State Department described as the largest violent extremist organization in the country.
These actions by the Biden Administration reflect its growing concern over the expansion of settlements and the rising settler violence. However, the move has had little impact on Israel’s decision-making.
The economic situation in Israel is becoming increasingly precarious as the war with Hamas stretches into its 11th month. The conflict has already taken a significant toll on the Israeli economy, with Gross Domestic Product (GDP) growth projections for 2024 plummeting to just 1.5%, down from an expected 3% before the war.
Economist Yacov Sheinin estimates that the total cost of the war could reach $120 billion, roughly 20% of Israel’s GDP. Once considered a model of entrepreneurial dynamism, Israel’s economy now faces unprecedented challenges that could have long-term implications.
The budget deficit has also ballooned to over 8% of GDP, significantly higher than the projected 6.6% for 2024. The country’s ports, critical to its trade infrastructure, have seen a 16% drop in shipping activity, disrupting import-export operations.
As the conflict continues, the strain on Israel’s economy and its relationship with the US grows, with the prospect of peace and stability in the region seeming ever more distant.