Media: UK weighs tough sanctions against Israeli banks, businesses

The diplomatic standoff between Israel and the United Kingdom is intensifying, with London considering a significant expansion of sanctions against Israel, N12 channel reports.

The escalation comes after Israeli Foreign Minister Gideon Sa’ar announced that the British Consulate in Jerusalem would be closed within a month.

Senior British sources told Channel 12 that the UK could substantially tighten its sanctions regime against Israel in the coming months. The sources described the potential package as potentially unprecedented in scope and said it could go beyond restrictions on goods produced in the West Bank.

London is reportedly considering sanctions against Israeli banks involved in financing the construction and development of settlements. Financial institutions that provide mortgages for the purchase of homes in the West Bank could also be targeted.

Major Israeli retail chains could likewise be subject to sanctions, according to the report.

By Vafa Guliyeva