Barclays, a British banking giant, is facing pressure from pro-Palestine activists and is planning to withdraw from new Israel government bond auctions, as reported by the Financial Times. The move comes after criticism of Barclays’ investments in Israel heightened during the recent conflict in Gaza.
While the bank will no longer participate in future Israeli bond offerings, it will continue to act as a primary dealer facilitating the sale of bonds for the state. Israel’s accountant general, Yali Rothenberg, expressed appreciation for Barclays’ commitment to the state amidst the decision.
Background and Activist Actions
Barclays has long been a target of pro-Palestinian activism due to its investments in Israel and ties to the arms industry. In response, activists have targeted Barclays branches and published reports highlighting the bank’s connections to companies supplying arms to Israel.
As pressure mounts, Barclays continues to defend its position, stating that it provides services to companies supplying defense products to NATO and its allies. The bank faces scrutiny as Israel defends itself against allegations of genocide and faces potential legal action at the International Court of Justice and International Criminal Court.
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