Israel-US tension rises with Gaza death toll; Scotiabank cuts stake in Israeli defence firm Elbit

US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu in a joint press conference in Tel Aviv on 18 October 2023.

Late last week, the US announced its army would build a pier to bring aid to civilians in Gaza, with food in short supply and relief groups warning of famine amid Israel’s assault. Biden demanded the Israeli leader “pay more attention to the innocent lives being lost,” warning that “he is hurting Israel more than helping Israel”.The public back-and-forth was a dramatic departure from Biden’s public embrace of Israel after the 7 October Hamas attacks, the deadliest in the country’s history.

For the moment, the Biden administration has kept up the flow of weapons and other support to Israel, even as it steps in to deliver humanitarian aid directly. This was evident when Biden sanctioned extremist Jewish West Bank settlers, the key constituents of Netanyahu’s partners. But when Gantz, a popular opposition politician, met officials in Washington last week, his message was clear: The attack on Rafah must proceed eventually.

Scotiabank spokesperson Heather Armstrong declined to explain the share sale, saying it didn’t comment on changes to individual securities in its mutual funds and that holdings might fluctuate over time. Haifa, Israel-based Elbit is one of Israel’s largest defence contractors and has been awarded a series of contracts from the country’s defence ministry since the beginning of the war with Hamas,Two US House Democrats are probing whether terrorist organisations and sanctioned individuals are using and even monetising their paid premium-service accounts on Elon Musk’s X social media platform.

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