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.
The United Nations Security Council on Friday failed to pass a resolution calling for an immediate ceasefire in Gaza as part of a hostage deal after Russia and China vetoed the measure proposed by the United States.
U.S. Ambassador to the United Nations Linda Greenfield-Thomas addresses a meeting of the U.N. Security Council as they meet to consider a U.S. sponsored resolution calling for a ceasefire during the conflict between Israel and the Palestinian Islamist group Hamas, at U.N. headquarters in New York City, U.S., March 22, 2024. Reuters/Mike Segar
The United Nations Security Council on Friday failed to pass a resolution calling for an immediate ceasefire in Gaza as part of a hostage deal after Russia and China vetoed the measure proposed by the United States.
The resolution called for an "immediate and sustained ceasefire" lasting roughly six weeks that would protect civilians and allow for the delivery of humanitarian assistance.
"The vast majority of this council voted in favor of this resolution, but unfortunately Russia and China decided to exercise its veto," U.S. Ambassador to the United Nations Linda Thomas-Greenfield told the Security Council.
Before the vote, she said it would be a "historic mistake" for the council not to adopt the resolution.
Russia's ambassador to the UN, Vassily Nebenzia, also speaking before the vote, called on members not to vote in favor of the resolution. He said the resolution was "exceedingly politicized" and contained an effective green light for Israel to mount a military operation in Rafah on the southern tip of the Gaza Strip, where more than half of its 2.3 million residents have been sheltering in makeshift tents to escape the Israeli assault farther north.
"This would free the hands of Israel and it would result in all of Gaza and its entire population, having to face destruction, devastation, or expulsion," Nebenzia told the meeting.
He said a number of non-permanent members of the Security Council had drafted an alternate resolution, which he called a balanced document, and said there was no reason for members not to support it.
By Daphne Psaledakis and David Brunnstrom
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.
Turkish Foreign Minister Hakan Fidan on Wednesday met with Hamas political bureau officials in Ankara to discuss the ceasefire in Gaza and advancing the agreement to its second phase, a Turkish Foreign Ministry source said.
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