All NewsEducationTVBrokers
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
All NewsHome
← Back to Geopolitics & Global Risk

UN Welcomes Trade Restrictions on Israeli Settlements

Created at 8 Sep · 6:11 PM1 source↑ Market-relevant
IN SHORT

The UN human rights office has commended 12 countries, including 11 European nations and Canada, for their plans to implement trade restrictions on goods from illegal Israeli settlements in the West Bank. Egypt, Jordan, and the Palestinian Presidency also welcomed the move.

Key Numbers

12countries planning trade restrictions
11European countries involved

Who's Involved

Volker Turk
Spokesperson for the UN High Commissioner for Human Rights
Egypt
Welcomed the trade restriction measures
Jordan
Welcomed the trade restriction measures
Palestinian Presidency
Welcomed the trade restriction measures
Canada
Implementing trade restrictions on settlements
Amnesty International
Advocated for UN database on settlement companies
UN Welcomes Trade Restrictions on Israeli Settlements

↳ Why This Matters

These trade restrictions and the UN's endorsement signal increased international pressure on Israel regarding its settlement policy, potentially impacting businesses involved and raising concerns about human rights abuses against Palestinians.

Key facts

  • The UN human rights office praised 12 countries for their intention to restrict trade with illegal Israeli settlements.
  • The measures were also welcomed by Egypt, Jordan, and the Palestinian Presidency.
  • A report details how foreign entities support Israel's settlement economy.
  • Amnesty International previously highlighted a UN database aimed at identifying companies involved in settlement activities.

The United Nations human rights office has lauded the decision by 12 countries to implement restrictions on trade with illegal Israeli settlements. Volker Turk, spokesperson for the UN High Commissioner for Human Rights, stated that the situation in the West Bank necessitates urgent and concrete actions. Egypt, Jordan, and the Palestinian Presidency have also expressed their support for these measures, which involve 11 European nations and Canada.

A report titled "Trading with Illegal Settlements – How Foreign States and Corporations Enable Israel’s Illegal Settlement Enterprise" underscores the detrimental impact of the settlement economy on Palestinian communities. The report, endorsed by numerous humanitarian, development, human rights, and faith-based organizations, advocates for a ban on all trade, investment, and services with businesses operating from illegal Israeli settlements in the West Bank, including East Jerusalem, and the Golan Heights. Signatories emphasize that such trade legitimizes settlements on occupied territory, hinders the viability of a future Palestinian state, and exacerbates Palestinian poverty, while clarifying it does not call for a boycott of Israel or Israeli corporations not involved in settlements.

Previously, Amnesty International had highlighted the UN Office of the High Commissioner for Human Rights' (OHCHR) plans to publish a database of companies engaged in activities that enable, facilitate, or profit from the construction and growth of Israeli settlements. This database was intended to promote transparency and encourage companies to reassess their operations in the context of the occupation and dispossession of Palestinians. Specific activities targeted include the supply of construction and surveillance equipment, banking and financial services, and the exploitation of natural resources.

Frequently asked questions

Twelve countries, including 11 European nations and Canada, are planning to introduce restrictions on trade with illegal Israeli settlements.

The UN human rights office commends countries that plan to restrict trade with illegal Israeli settlements, viewing it as an urgent and concrete measure needed due to the situation in the West Bank.

The database is intended to help businesses and their home states take steps to ensure they are not committing or contributing to gross human rights abuses of Palestinians.

What Happens Next

01The UN database of companies involved in settlement activities is expected to be updated annually.
02Further actions by states and corporations are anticipated to ensure they are not contributing to human rights abuses.

How It Developed

The UN human rights office commended 12 countries for plans to restrict trade with illegal Israeli settlements.
Egypt, Jordan, and the Palestinian Presidency welcomed the measures.
A report highlighted how foreign states and corporations enable Israel's settlement enterprise.
Amnesty International noted the UN's planned database of companies involved in settlement activities.

Sources

T1
UN welcomes countries' move to restrict trade with illegal Israeli settlementsMiddle East Eye
T2
UN database of companies operating in Israeli settlements could help prevent human rights abuses - Amnesty Internationalamnesty.org
T2
Report: Trading with Illegal Settlements - How Foreign States and Corporations Enable Israel’s Illegal Settlement Enterprise (Non-UN Document) - Question of Palestineun.org

Related Stories

Oxfam urges UK to expand settlement trade ban; BDS co-founder calls it 'performative'
8 Sep · 1:51 PM
UN warns Israeli actions in Syria may amount to war crimes
8 Sep · 1:41 PM
UK settlement sanctions draw criticism, face US pressure
8 Sep · 2:51 PM
UK, France, Canada, 11 others sanction trade with Israeli settlements
8 Sep · 2:26 AM
UK trade sanctions on Israeli settlements draw criticism
8 Sep · 4:26 PM