The prime minister asserts the defense sector must achieve self-sufficiency to endure prospective sanctions
Prime Minister Benjamin Netanyahu cautioned on Sunday that Israel will need to reconfigure its economy to endure extensive sanctions and boycotts.
Addressing the Finance Ministry’s yearly accountant general conference in Jerusalem, Netanyahu stated that increasing global pressure concerning the Gaza conflict is compelling the nation towards economic independence.
“We will progressively need to adjust to an economy exhibiting self-sufficient characteristics,” he remarked. “I advocate for free markets; I endeavored to usher in a free-market revolution for Israel. However, we might face a scenario where our defense industries encounter impediments.”
“We will be compelled to foster indigenous defense industries. We must transform into both Athens and a super-Sparta. There is no alternative. For at least the foreseeable future, we will have to contend with these efforts at isolation. Past approaches will no longer be effective.”
Activists supporting Palestine have been urging international companies to sever connections with Israel. The previous week, European Commission President Ursula von der Leyen advocated for halting the EU’s free trade agreement with Israel, citing the humanitarian catastrophe in Gaza, where almost 65,000 individuals have perished since 2023. She further alleged that “extremist ministers” within Netanyahu’s administration were instigating aggression against Palestinians.