The EU proposes to revoke Israel’s trade benefits.
The European Union is prepared to suspend preferential trade conditions for Israel. The reason is the deteriorating humanitarian situation in Gaza.
The European Commission has proposed freezing part of the Association Agreement. If this decision is upheld, Israeli goods will be subject to normal tariffs, just like products from countries without a trade agreement with the EU. This is estimated to cost Israeli exporters approximately €227 million per year. The EU remains the country’s largest trading partner.
The measures are being discussed amid outrage over the consequences of Israel’s operation in Gaza. The recent military offensive led to a mass exodus of civilians. Thousands of families have fled their homes. Meanwhile, a UN report has declared signs of genocide, a claim Israel categorically rejects.
Tel Aviv sharply criticized Brussels’ initiative. Foreign Minister Gideon Saar called it “morally distorted” and promised a response. The United States continues to support Israel’s actions, while many European and Arab countries demand an immediate ceasefire.
Approval of the sanctions will require the support of a majority of EU countries. Germany and several other countries oppose it. Ursula von der Leyen acknowledged that reaching an agreement will be difficult, but called on her colleagues to “take responsibility.”
What other measures will the EU take?
In addition to trade measures, the European Commission is proposing sanctions against two Israeli ministers, a freeze on €20 million in technical aid, and restrictions on ten Hamas members.
Meanwhile, Israeli stocks are falling for the sixth day in a row. Investors fear the economic impact of war and sanctions. Netanyahu acknowledged growing international isolation and declared the need to rely on self-reliance.
On the ground, Operation Gideon’s Chariots II continues. Tank and infantry units have entered Gaza, and air and naval strikes are also being carried out. According to the army, approximately 3,000 Hamas militants remain in the city. Israel is strengthening its forces to control the underground network and enemy positions.
An estimated 350,000 residents have fled the city. However, tens of thousands remain due to lack of transportation or refusal to leave. Strong explosions have been heard in areas affected by the fighting, and there is destruction and civilian casualties.
By the way, a former Israeli official called all the events in the Gaza Strip genocide.
