US Secretary of the Treasury Janet Yellen holds a press conference ahead of the G7 Finance Minister and Central Bank Governors' Meeting in Stresa, Italy May 23, 2024. — Reuters picSTRESA , May 24 — US Treasury Secretary Janet Yellen said yesterday she was concerned by a threat from Israel to cut off Palestinian banks from their Israeli correspondent banks, a move that would close a critical lifeline for the Palestinian economy.
“I expect other countries to express concern about the impact of such a decision on the West Bank economy. I think this would have a very adverse effect also on Israel.”Israel’s Finance Minister Belazel Smotrich has said he cannot renew a waiver that expires on July 1 which allows Israeli banks to process shekel payments for services and salaries tied to the Palestinian Authority.
“The Palestinian banking system maintains correspondent banking relationships with a wide network of banks around the world that qualify it to continue providing services to citizens locally and globally, as banking relationships with the outside world will not be affected in all cases,” the authority added in a statement.
Palestinian Banks Israel Palestine Conflict Gaza War
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