" And that will put multinational corporations, banks and pension funds in an ever harder legal position if they continue to ignore their own complicity with Israel’s criminality."
Absolutely. I worked in global investment banks for years, had to do training 2-4 times a year on sanctions etc. ICC/ICJ court judgments were mentioned. My und…
" And that will put multinational corporations, banks and pension funds in an ever harder legal position if they continue to ignore their own complicity with Israel’s criminality."
Absolutely. I worked in global investment banks for years, had to do training 2-4 times a year on sanctions etc. ICC/ICJ court judgments were mentioned. My understanding is that by their own rules and regulatory requirements, they have to stop operating in and with Israel, and individuals demonstrably connected with Israel.
And these are organisations that usually swarm supportively around US/NATO policy. They'll be conflicted, but have no choice afaict.
There are many that already steer clear of Israeli government bonds. The judgement will put them even more on guard recording commercial instruments, as it raises the spectre of reparations being owned for wrongful expropriation and the ownership of assets based in occupied territories being worth nothing in reality. That kind of will scare many away.
But, the financial sector is riddled with hardcore zionists in influential positions, especially in the US and many of them will double on down their institutions' position rather than pull back.
So it's more likely that a split will emerge in the finance world, particularly between the US + foreign institutions dependent on US clients, and the rest.
I think it will be hard for them, have to deal with Audit who can cause a lot of pain, and who are mainly fronting for the regulators anyway. The financial separation has begun already of course - BRICS, SCI, end of petrodollar etc. But the Gaza/Ukraine bookends have a wonderful clarifying effect on so many aspects of the :cough: rules based order.
It’s the risk management issue. If the financial institution invests your money but has not undertaken the level of due diligence that is supposed to - such as evaluating the potential financial impact of new legal judgments- then the investors can sue the financial institutions to claw back losses. Based on not having fulfilled their fiduciary duties.
So a judgment that puts ownership of land and assets in the occupied territories as clearly stolenis a financial game-changer.
It also impacts the value of many businesses such as agricultural etc inside “Israel” that are based on stolen resources such as the diversion water:
" And that will put multinational corporations, banks and pension funds in an ever harder legal position if they continue to ignore their own complicity with Israel’s criminality."
Absolutely. I worked in global investment banks for years, had to do training 2-4 times a year on sanctions etc. ICC/ICJ court judgments were mentioned. My understanding is that by their own rules and regulatory requirements, they have to stop operating in and with Israel, and individuals demonstrably connected with Israel.
And these are organisations that usually swarm supportively around US/NATO policy. They'll be conflicted, but have no choice afaict.
There are many that already steer clear of Israeli government bonds. The judgement will put them even more on guard recording commercial instruments, as it raises the spectre of reparations being owned for wrongful expropriation and the ownership of assets based in occupied territories being worth nothing in reality. That kind of will scare many away.
But, the financial sector is riddled with hardcore zionists in influential positions, especially in the US and many of them will double on down their institutions' position rather than pull back.
So it's more likely that a split will emerge in the finance world, particularly between the US + foreign institutions dependent on US clients, and the rest.
I think it will be hard for them, have to deal with Audit who can cause a lot of pain, and who are mainly fronting for the regulators anyway. The financial separation has begun already of course - BRICS, SCI, end of petrodollar etc. But the Gaza/Ukraine bookends have a wonderful clarifying effect on so many aspects of the :cough: rules based order.
It’s the risk management issue. If the financial institution invests your money but has not undertaken the level of due diligence that is supposed to - such as evaluating the potential financial impact of new legal judgments- then the investors can sue the financial institutions to claw back losses. Based on not having fulfilled their fiduciary duties.
So a judgment that puts ownership of land and assets in the occupied territories as clearly stolenis a financial game-changer.
It also impacts the value of many businesses such as agricultural etc inside “Israel” that are based on stolen resources such as the diversion water:
https://www.counterpunch.org/2024/07/25/the-politics-of-water-under-occupation-israel-in-palestine/