Israeli financial system shows ties to settler projects in West Bank

By Al Mayadeen English
Source: Israeli media
18 Mar 2024 12:01
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Smotrich and his aide Eliyahu are complicit in financing and obtaining controversial mortgage loans for illegal Israeli settlements in the West Bank.

Israeli settlers walk in the funeral of a settler killed in a Resistance operation near the illegal settlement of "Eli" in the occupied West Bank, occupied al-Quds, occupied Palestine, March 1, 2024. (AP)

The Israeli financial system is facilitating the expansion of illegal settlements in the occupied West Bank and deepening the occupation of Palestinian territories, the Israeli newspaper Haaretz reported on Monday.

"Following an order issued by US President Joe Biden last month, the United States imposed sanctions on two settler outposts in the West Bank and three settlers due to violence against Palestinians," which added to four other settlers previously sanctioned by the US, Haaretz said.

The US sanctioning of the illegal settlements will affect donations from non-governmental organizations and individuals who seek to finance "Israel's" colonial project in the West Bank.

Haaretz pointed to the deep-rooted nature of Israeli settlements in the West Bank, saying that US sanctions "are just the beginning of dismantling the occupation and settlement project."

In fact, the newspaper conducted an investigation that revealed the pathways utilized by Israeli settlers to obtain mortgage loans, financed by the Israeli government, and build colonial outposts in the occupied territory. One such loan to construct a residential building in areas under the control of the "Israeli Land Authority" was awarded to the far-right leader of the Regavim organization, Yehuda Eliyahu.

Regavim is a racist organization that works on dismantling and stopping the construction of homes or permanent structures belonging to Palestinians in the occupied West Bank and '48 occupied territories. Eliyahu is currently the head of the Settlement Directorate in the Ministry of Security and is considered to be the right-hand man of far-right Finance Minister Bezalel Smotrich.

Haaretz said that the two are practically the ones controlling the decision-making in the occupied West Bank, adding that the fact that they were the subject of its investigation shows that they are the "most influential in Israel's policy in the West Bank," illustrating "the depth of the settlement project's grip on the state."

Ethnically cleansing the West Bank

The Israeli settler colonial project in the occupied West Bank aims to dissect and split apart historic Palestinian towns and cities through the installment of permanent Israeli settlements or farms that are illegally built on usurped Palestinian land. Leading these efforts are far-right Israelis and religious extremist settlers who have organized multiple NGOs with the hopes of securing funds for the expulsion and ethnic cleansing of Palestinians. However, these efforts are not limited to the religious far-right, but they have also been shared by right-wing politicians and centrists.

The construction of new settlements in the West Bank and the expansion of the ones already established are widely considered to be illegal by most international actors and international organizations. However, this has not stopped the Israeli government headed by Benjamin Netanyahu from doubling down on efforts to ease the process of expansion and fund such organizations and individuals responsible for colonial projects.

Earlier, Smotrich said that the Settlement Directorate will grant approval for the construction of 2,350 units in "Ma’ale Adumim", 300 in "Keidar", and 694 in "Efrat" in the West Bank, following meetings with top officials, including Prime Minister Netanyahu, Security Minister Yoav Gallant, and Strategic Affairs Minister Ron Dermer. The decision coincides with several statements made by Israeli officials calling for the expulsion of Palestinians in the West Bank to Jordan, marking the continued expansionist nature of the Israeli regime.