London, Jul 22 (V7N) – Amnesty International has called on European Union member states, including Luxembourg and Ireland, to stop facilitating the sale of Israeli government bonds, arguing that continued fundraising through European financial markets risks contributing to Israel's military campaign in Gaza.
In a statement, Steve Cockburn, Amnesty International's Regional Director for Europe, said Israel's reliance on foreign investment to finance its military operations, occupation policies and what the organization describes as "genocide" is increasing.
"Israel's dependence on foreign investment to finance genocide, apartheid and illegal occupation is increasing. At the same time, this money is being used to continue crimes against Palestinians," Cockburn said.
He added that Israeli government bonds provide the country with an additional source of funding and therefore contribute to financing military operations in the occupied Gaza Strip.
According to Amnesty International, Israel has significantly expanded its issuance of government bonds since October 2023 to help finance increased military spending. The organization noted that Luxembourg currently serves as the regulatory authority for the bond programme, while Ireland previously held that role.
Amnesty said the current prospectus governing the bond programme in Luxembourg is set to expire on August 31, and urged the Luxembourg government not to renew it. The organization also called on Ireland and other EU member states to refrain from hosting or supporting similar bond programmes in the future.
Cockburn argued that allowing the sale of Israeli government bonds within the European Union carries significant legal and moral implications.
"International law clearly states that no state can aid or assist genocide. At the same time, all states have an obligation to take steps to prevent genocide," he said.
International human rights organizations and several global bodies have repeatedly raised concerns over alleged violations of international law during Israel's military operations in Gaza. Israel has consistently rejected those allegations, maintaining that its military actions are conducted in accordance with international law.
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