Israel
Israel’s economy: A Banana Republic run by monopolies
Israel increasingly resembles an economy captured by monopolies, where a small circle of powerful interests dominates key sectors and ordinary consumers foot the bill.
U.S. Secretary of State Antony Blinken told Israeli Defense Minister Yoav Gallant in a phone call on Friday that the escalation of tensions in the Middle East was "in no party's interest" while also stressing the need for a Gaza ceasefire, the State Department said.
Antony Blinken © Mena Today
U.S. Secretary of State Antony Blinken told Israeli Defense Minister Yoav Gallant in a phone call on Friday that the escalation of tensions in the Middle East was "in no party's interest" while also stressing the need for a Gaza ceasefire, the State Department said.
There has been an increased risk of escalation into a broader Middle East war after recent killings of Palestinian Islamist group Hamas' leader Ismail Haniyeh in Iran and of Hezbollah military commander Fuad Shukr in Beirut drew threats of retaliation against Israel.
As a result, many fear a widening of Israel's war in Gaza that has already killed tens of thousands and caused a humanitarian crisis, following Hamas' Oct. 7 attack on Israel.
"The Secretary reaffirmed the United States' ironclad commitment to Israel's security and discussed how escalation is in no party's interest," the State Department said in a statement.
Blinken stressed the "urgent need to reach a ceasefire in Gaza" that could release hostages held in the enclave and "create the conditions for broader regional stability," the State Department added.
A day earlier, Gallant spoke to U.S. Defense Secretary Lloyd Austin about the situation in the region.
The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered on Oct. 7 when Hamas attacked Israel, killing 1,200 and taking about 250 hostages, according to Israeli tallies.
The Gaza health ministry says that since then Israel's military assault on the Hamas-governed enclave has killed nearly 40,000 Palestinians while also displacing nearly the entire population of 2.3 million, causing a hunger crisis and leading to genocide accusations that Israel denies.
President Joe Biden laid out a three-phase ceasefire proposal in an address on May 31. Washington and regional mediators have since tried arranging the Gaza ceasefire-for-hostages deal but have consistently run into obstacles.
By Kanishka Singh
Israel increasingly resembles an economy captured by monopolies, where a small circle of powerful interests dominates key sectors and ordinary consumers foot the bill.
Israeli Prime Minister Benjamin Netanyahu accused Hamas on Wednesday of violating the Gaza ceasefire agreement after a military officer was wounded by an explosive device in Rafah and Israel vowed retaliation.
Israeli Defence Minister Israel Katz said on Tuesday that the military would never fully withdraw from the Gaza Strip for security reasons and that a civilian-military army unit would be established in the Palestinian enclave.
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.