Barclays Faces Pressure Over Involvement with Israeli Defence Firms
Barclays found itself at the center of controversy as pro-Palestinian activists called for a boycott of the bank due to its ties with Israeli defence suppliers. Initially planning to withdraw from Israeli government bond auctions, Barclays ultimately decided to continue its commitment to the country.
Israeli officials were informed of Barclays’ decision to remain a primary dealer, standing alongside other major international banks. Israel’s accountant general, Yali Rothenberg, praised the bank for supporting the country’s right to self-defence as a leading democracy.
Despite facing criticism and disruptions from activists, Barclays clarified that it does not invest its own funds in defence companies supplying Israel, only trading shares on behalf of clients. The bank emphasized that it would sever ties with any entities involved in producing cluster bombs if evidence came to light.
Israel’s reliance on bond sales to fund its deficit, exacerbated by recent conflicts, underscores the complex relationship between finance, politics, and global conflicts.