Israeli banks could be hit: Major concern over European sanctions

There is concern at the Manufacturers Association of Israel over sanctions that European countries, led by Britain, intend to impose on Israeli industrial entities operating beyond the Green Line and on companies maintaining business ties with them.Against this backdrop, Manufacturers Association President Avraham Novogrocki turned to the relevant government ministries, including the Foreign, Economy, and Finance ministries, to examine ways to assist in dealing with the new situation. The volume of industrial exports is estimated at NIS 175 billion, most of it in the high-tech sector.Export volume and impact on Palestinian laborThe share of exports among companies active beyond the Green Line stands at 5% of total exports, totaling about NIS 9 billion. This includes plastics plants, machining, food, and more.