Ireland withdraws its investments from Israeli banks and companies
The Irish National Treasury Management Agency has decided to divest the Irish Strategic Investment Fund from Israeli companies that have certain activities in the occupied Palestinian territories.
The total amount withdrawn amounts to 2.95 million Euros ($3.2 million) from the following companies, most of which are banks: Bank Hapoalim, Bank Leumi, Mizrahi Tefahot Bank, and Rami Levy Stores.
The left-wing Irish Republican Party is currently pushing a bill in Parliament calling for the complete liquidation of Israeli companies operating in Israeli colonies in the occupied West Bank.
John Brady, a Sinn Fein member of parliament, said in a statement, “Divestment isn’t enough, and Sinn Fein has pushed the government this far, but today’s announcement does not go far enough and should be just the beginning”.
Its noteworthy that the Irish Strategic Investment Fund isn’t the first European sovereign fund to withdraw its investments from Israeli companies due to colonial activities in the West Bank and occupation practices.
Rather, the $1.6 trillion Norwegian wealth fund, the largest in the world, has withdrawn its investments from nine Israeli companies in recent years, due to their practice as an occupation in the Palestinian territories.
In February, Moody’s credit rating agency lowered the credit rating of the five largest Israeli banks, after the agency had lowered Israel’s credit rating for the first time in its history, a week earlier, in light of the continuing war on the Gaza Strip.
