G7 finance leaders will call on Israel to maintain correspondent banking links between Israeli and Palestinian banks to allow vital transactions, trade and services to continue, according to a draft joint statement seen by Reuters on Saturday.
Family photo session at the G7 Finance Ministers and Central Bank Governors' meeting in Stresa, Italy, May 24, 2024. Reuters/Massimo Pinca
G7 finance leaders will call on Israel to maintain correspondent banking links between Israeli and Palestinian banks to allow vital transactions, trade and services to continue, according to a draft joint statement seen by Reuters on Saturday.
The statement, to be released at the end of a Group of Seven finance ministers and central bank governors' meeting in northern Italy, also calls for Israel "to release withheld clearance revenues to the Palestinian Authority, in view of its urgent fiscal needs".
The statement echoes a warning on Thursday from U.S. Treasury Secretary Janet Yellen, who said the failure to renew a soon-to-expire banking waiver would cut off a critical lifeline for the Palestinian territories amid a devastating conflict in Gaza.
"We call on Israel to take the necessary measures to ensure that correspondent banking services between Israeli and Palestinian banks remain in place, so that vital financial transactions and critical trade and services continue," the draft statement said.
The G7 finance leaders also called for the removal or relaxation of other measures "that have negatively impacted commerce to avoid further exacerbating the economic situation in the West Bank."
Reporting by David Lawder
The European Union's diplomatic service on Thursday presented 10 options for political action against Israel after it found "indications" last month that Israel breached human rights obligations under a pact governing its ties with the bloc.
The handover of weapons by the outlawed Kurdistan Workers Party (PKK) in Iraq, following its decision to disband, should be completed within a few months, a spokeperson for Turkey's ruling AK Party said late on Wednesday.
The United States said on Wednesday it was imposing sanctions on Francesca Albanese, the United Nations' special rapporteur on human rights in the occupied Palestinian territories, who has been very critical of U.S. ally Israel's war in Gaza.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.