RT.com
16 Sep 2025, 03:32 GMT+10
The prime minister says the defense industry must become self-reliant to withstand potential sanctions
Israel will have to reshape its economy to withstand sweeping sanctions and boycotts, Prime Minister Benjamin Netanyahu warned on Sunday.
Speaking at the Finance Ministry's annual accountant general conference in Jerusalem, Netanyahu said mounting international pressure over the Gaza war is pushing the country toward economic self-sufficiency.
"We will increasingly have to adapt to an economy with autarkic features," he said. "I believe in free markets, I worked to bring Israel a free-market revolution. But we may find ourselves in a situation where our defense industries are blocked."
Pro-Palestine activists have been pressuring foreign firms to cut ties with Israel. Last week, European Commission President Ursula von der Leyen called for suspending the EU's free trade deal with Israel, citing the humanitarian crisis in Gaza, where nearly 65,000 people have died since 2023. She accused "extremist ministers" in Netanyahu's government of inciting violence against Palestinians.
READ MORE: EU member state calls for sanctions on Israel media
Israel receives about $3.3 billion annually in US military and security aid, along with additional packages approved by Congress. According to the Council on Foreign Relations, Washington has provided around $310 billion in mostly military assistance since 1946. In 2024, Israel's military spending climbed to roughly 8.78% of GDP, nearly double the pre-2023 level.
(RT.com)
Get a daily dose of Iraq Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Iraq Sun.
More InformationMISSION, Kansas: In recent weeks, roughly 50 college campuses across the United States have been rattled by waves of hoax calls reporting...
KINSHASA, Congo: The World Health Organization (WHO) says limited access and a shortage of funds are hampering efforts to contain the...
KATHMANDU, Nepal: Nepal has entered a turbulent new chapter after President Ram Chandra Poudel appointed former Supreme Court Chief...
WASHINGTON, D.C.: The shooting of conservative activist Charlie Kirk at a Utah college event has reignited debate over how social media...
JERUSALEM - The plane carrying Israeli Prime Minister Netanyahu to the U.S. this week will fly a different route, avoiding air space...
WASHINGTON, D.C.: Federal Reserve Governor Lisa Cook described a condominium she bought in June 2021 as a vacation home on a loan estimate...
JERUSALEM - The plane carrying Israeli Prime Minister Netanyahu to the U.S. this week will fly a different route, avoiding air space...
LONDON, UK - In a significant shift in policy, the British government has formally determined that Israel is not committing genocide...
(Beirut) - Egyptian authorities have since July 2025 carried out an abusive campaign of mass arrests and prosecutions targeting online...
The prime minister says the defense industry must become self-reliant to withstand potential sanctions Israel will have to reshape...
(250915) -- DOHA, Sept. 15, 2025 (Xinhua) -- Qatari Foreign Ministry spokesman Majed Al Ansari (L) and Gulf Cooperation Council (GCC)...
NEW YORK, 16th September, 2025 (WAM) -- United Nations Spokesperson Stephane Dujarric stressed the importance of the recent joint statement...
