The DBIO alliance, comprising 25 European and Palestinian non governmental organizations, said its investigation into financial relations between companies involved in Israel’s illegal settlement project in the occupied Palestinian territories and European financial institutions found ongoing cooperation with Israel by EU states and firms despite calls for boycott and pressure to halt such practices.
Francesca Albanese, United Nations Special Rapporteur on Palestine and contributor to the report, said the new DBIO findings reveal how the European financial sector, through major investments, funds companies that perpetuate the Israeli occupation, apartheid regime and genocide. She urged action to stop these investments and European support for the occupation.
In a post on X, Albanese noted that a new UN report concluded Israel’s war on Gaza has erased 69 years of humanitarian development by destroying health care, education, infrastructure and banks, describing it as “the worst economic collapse ever recorded… this is not a war, this is a genocide.”
In Brussels, a “European Citizens’ Initiative” was launched calling for suspension of the EU partnership agreement with Israel. A European Commission statement said organizers, including former European Parliament member Malin Björk, urged suspension of the agreement, noting that while the EU acknowledged Israel’s responsibility for civilian casualties, mass displacement and systematic destruction of medical facilities in Gaza, it has not imposed sanctions.
Organizers stressed that Israel obstructed humanitarian aid in a manner amounting to the use of starvation as a weapon of war, and failed to meet many of its obligations. They highlighted that the EU is Israel’s largest trading partner, with total goods trade reaching €42.6 billion in 2024, yet no sanctions were imposed despite human rights violations.
The Commission confirmed it has formally registered the initiative, with signature collection now underway. A final decision is expected within six months.
Since Oct. 7, 2023, Israel’s war on Gaza has killed 69,775 Palestinians and injured 170,965 others, causing massive destruction of homes, infrastructure and services.
Meanwhile, violations continue to escalate in the West Bank, where settlement expansion, arrests, raids, house demolitions and deprivation of livelihoods persist in contravention of international law and relevant UN resolutions
