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Spain, Italy, France, Britain, Germany advise against settlements investment

(JTA) — Spain and Italy bring to five the number of major European Union countries warning citizens against investment in Israeli settlements in the West Bank, eastern Jerusalem and the Golan Heights.

Those countries joined France, Germany and Britain in issuing such advisories this year.

The warning on the Spanish foreign ministry website cites European Union policy which deems illegal Israeli settlements in the West Bank, eastern Jerusalem and the Golan. These settlements “constitute an obstacle to peace” and the two-state solution to the Israel-Palestinian conflict, the statement said.

Israel disputes the illegality of settlements in the West Bank and considers the Golan Heights and all of Jerusalem part of its territory.

“The potential buyers and investors should know that a future peace accord between Israel and the Palestinians , or between Israel and Syria could have consequences both for properties acquired and for economic activities promoted in said settlements,” the statement read. “In case of litigation, it could be very difficult for member states to guarantee the protection of their interests.”

E.U. entities considering commercial activities in what the European Union considers settlements “should be aware of the potential implications for their reputation”, the statement said.

Stopping short of calling for such entities to refrain from investing in these areas, the statement advised them merely to “seek adequate legal council before moving ahead” with such plans.

“The statement is not intended as a call for a boycott in any way, or to limit economic cooperation between Spain and Israel within its internationally-recognized borders,” Carlos Entrena Moratiel, a ministry spokesman, told JTA.

France posted its warning earlier this week and in an explanatory note posted on its foreign ministry website on Thursday elaborated that citizens considering such investments should seek legal advice before proceeding.

The ministry said the warning was in line with European Union policy on settlements.

Various European media have reported that the advisories have come in part because of the collapse in April of Israeli-Palestinian peace talks.

“While this advice is not new in essence, it is part of the European diplomatic campaign against the settlements,” an Israeli diplomat serving in Western Europe told JTA.

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Source: JTA

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Posted by on June 27, 2014. Filed under Breaking News,Israeli News,World News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.