In a scathing report, top United Nations human rights experts have sounded the alarm over the complicity of Western weapons manufacturers and financial institutions in Israel’s actions in Gaza. The experts are urging these entities to cease their arms shipments to Israel immediately, warning of potential complicity in war crimes and other severe human rights violations.
Prominent weapons manufacturers like BAE Systems, Boeing, Lockheed Martin, and Northrop Grumman have been singled out by UN experts. These corporations, by supplying arms to Israel, risk violating international humanitarian laws and could be seen as contributing to potential genocide.
UN experts have highlighted that the transfer of weapons to Israel could result in serious human rights violations, emphasizing the urgent need to halt these transfers to prevent further atrocities.
Related:How UK-Israel Arms Trade Impacts Gaza: Unraveling the Dynamics
The UN report doesn’t stop at arms manufacturers. It also calls out major financial institutions, including asset managers like BlackRock and Wall Street banks such as JP Morgan Chase, Citigroup, and Bank of America. These financial giants have been accused of heavily investing in the arms industry, thereby indirectly profiting from the ongoing conflict in Gaza.
The United States has been a significant player in this scenario, providing Israel with $3.8 billion in military aid annually, even before the recent escalation in Gaza. Since October 2023, Washington has funneled billions more in arms and ammunition to Israel. Despite President Joe Biden’s warning against an invasion of Rafah, the US has continued to support Israel with substantial military aid, further implicating itself in the conflict.
Related: Israeli minister proposes depopulation of Gaza
Wall Street banks have not been mere bystanders. Institutions like BNP Paribas, Deutsche Bank, and Goldman Sachs underwrote $8 billion in bonds for Israel in March 2024, aiding in the funding of Israel’s military operations in Gaza. This financial backing has been crucial for Israel, allowing it to sustain its military actions despite international condemnation.
Israel’s own financial mechanisms, such as the Development Corporation for Israel (Israel Bonds), have played a significant role in securing funds. These bonds have seen global sales exceeding $1 billion annually in recent years, with numerous US state governments investing hundreds of millions of dollars in them since October.
The complicity of financial institutions has not gone unnoticed. Activists have protested outside BlackRock’s headquarters in New York City, condemning the firm’s investments in Israel as profits derived from war crimes. BlackRock, the world’s largest investment company, with $10.5 trillion in assets under management, has faced significant backlash for its financial support of Israel.
The involvement of Western arms manufacturers and financial institutions in Israel’s actions in Gaza presents a complex ethical dilemma. By continuing their business relationships with these entities, these corporations and banks risk being seen as contributors to human rights abuses and potential atrocity crimes.
UN experts are calling for immediate action to prevent further complicity in these crimes. They stress the importance of halting arms transfers and reassessing financial investments that support Israel’s military actions. The international community must hold these corporations and financial institutions accountable for their role in perpetuating the conflict in Gaza.
The report by UN human rights experts paints a grim picture of the complicity of Western arms manufacturers and financial institutions in Israel’s actions in Gaza. The call for immediate cessation of arms transfers and a reassessment of financial investments is a crucial step towards addressing the ongoing human rights violations. The international community must heed this call and take decisive action to prevent further atrocities and hold those responsible accountable.
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The report by UN human rights experts paints a grim picture of the complicity of Western arms manufacturers and financial institutions in Israel’s actions in Gaza. The call for immediate cessation of arms transfers and a reassessment of financial investments is a crucial step towards addressing the ongoing human rights violations. The international community must heed this call and take decisive action to prevent further atrocities and hold those responsible accountable.