Smotrich has moved to isolate Palestinian banks from the international banking system, which could paralyze the economy.

Israeli finance minister ends waiver that Palestinian banks rely on to operate after Western sanctions announced.

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GazaIsrael's Finance Minister has cancelled a waiver allowing Israeli banks to work with Palestinian counterparts in a move that could paralyse the Palestinian economy. It comes hours after the UK and other countries imposed sanctions on him and another hard-line minister.

Israeli Finance Minister Bezalel Smotrich instructed the ministry's Director-General Yali Rothenberg to cancel the indemnity provided to correspondent banks in relation to banks operating in the Palestinian Authority, his office confirmed on Tuesday.

Finance minister orders cancellation of waiver allowing Israel-PA bank ties, though Palestinian Authority not known to have been involved in UK-led decision to blacklist him and Ben Gvir The post Smotrich moves to paralyze Palestinian economy in response to Western sanctions appeared first on The Times of Israel.

Former Labor MP Michael Danby discusses recent sanctions on Israeli politicians Bezalel Smotrich and Itamar Ben-Gvir.

The timing couldn't be better," Smotrich said."Britain has already tried once to prevent us from settling the cradle of our homeland, and we will not allow it to do so again. We are determined to continue building.

The post Responding to UK-led sanctions, Smotrich cancels waiver allowing Israel-PA bank ties appeared first on The Times of Israel.