Financial leaders from the Group of Seven wealthy democracies (G7) on Saturday called on Israel to maintain a special relationship with Palestinian banks and to address issues that prevent the redistribution of taxation rights to large multinational corporations. He said he would do his best to resolve the issue.
A statement released late the day after the G7 finance ministers and central bank governors meeting also condemned Iran’s military attack on Israel and the transfer of advanced weapons to Russia.
G7 financial leaders said the continuation of the Israeli-Palestinian correspondent banking relationship was necessary “to ensure the continuation of important financial transactions and vital trade and services.”
The statement echoed warnings from U.S. Treasury officials who also called for the release of all withheld customs revenue to the Palestinian Authority and the reissuance of permits to Palestinian workers when security permits.
The G7 communiqué was released on Friday night following the group’s separate statement setting out the principles for a $50 billion bilateral loan to Ukraine backed by frozen Russian sovereign assets, and could be released as early as December. Execution may also begin.
