Barclays targeted by boycotts over "Israel" ties

By Al Mayadeen English
Source: News Websites
13 Jun 2024 17:06
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Acts such as Speed, Scowl, and Ithaca protest Barclaycard's support of banking services offered to defense industries.

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A Barclay branch in the UK was targeted by Palestine Action in demand that the firm divest from "Israel's" weapons trade (X photo, @Pal_action)

Several music groups have backed out of the Download festival because Barclaycard is being utilized as its official payment partner, in protest of Barclays providing banking to defense firms supplying "Israel."

Barclaycard is one of many official sponsors for Download, the UK's largest rock, metal, and punk festival, scheduled from June 14 to 16.

Pest Control, a band from Leeds, wrote: "We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain."

On Tuesday evening, the British metalcore band Ithaca joined the boycott movement, telling The Guardian they could "no longer participate" once they found out about Barclays involvement.

"This moment of solidarity is an opportunity for festival organizers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent."

The moves follow a broad boycott of Brighton's Barclaycard-sponsored Great Escape festival in May, which saw over 100 performers withdraw. Keynote speakers did not appear. Headliners refused to show up. Entire showcases were scrapped as tensions from the war on Gaza reached the south coast of England, as per The Guardian.

Barclays has recently faced criticism from pro-Palestine groups. This week, members of the activist organization Palestine Action damaged over 20 Barclays branches throughout the UK, shattering windows and daubing them with red paint; in Edinburgh, pebbles etched with the names of deceased Palestinians were hurled at a bank branch.

BREAKING: Palestine Action and @shut_system target 20 Barclays branches across England and Scotland!

Our collaboration demanding divestment from Israel’s weapons trade and fossil fuels has left the bank shattered. pic.twitter.com/ZSUMf06tCy
— Palestine Action (@Pal_action) June 10, 2024

The protests were carried out in collaboration with climate activists Shut The System, and Palestine Action stated that they "demand the bank divests from Israeli weapons trade and fossil fuels".

The Palestine Solidarity Campaign, located in the United Kingdom, asks for a boycott of the bank because of its "grave complicity in Israel's attacks on Palestinians," claiming that Barclays "now holds over £2 billion in shares and provides £6.1 billion in loans and underwriting" to firms that provide Israel with military equipment.

In an online statement, Barclays responds to the criticism citing that it was a "mistake" regarding what the firm does. “We trade in shares of listed companies in response to client instruction or demand and that may result in us holding shares. Whilst we provide financial services to these companies, we are not making investments for Barclays and Barclays is not a ‘shareholder’ or ‘investor’ in that sense in relation to these companies," the firm explained.

Regarding Israeli firm Elbit Systems, Barclays noted that they are not investors despite holding shares "in relation to client-driven transactions, which is why we appear on the share register."

The statement also added that it is the UK government that should decide if the transfer of weapons to a particular country ought to be limited.

Barclays also denounced Palestine Action's actions this week, urging that protest, although is supported, should be done in a way "which respects our customers, colleagues, and property."