Spain, Italy Warn Against Investing In Israeli Settlements

Spain and Italy have joined France in advising their citizens not to invest in Israeli settlements built on occupied Palestinian Land.

The Italian Foreign Minister Frederico Mogherini told Italians on Friday “not to get involved in financial activity and investments” in settlements in the West Bank, Italian media reported.

France, Germany and Britain have already issued similar advisories, as the international community regards all Israeli settlements built on occupied land as illegal.

The Italian announcement comes after Spain issued a similar warning on Thursday. An announcement on the Spanish foreign ministry website cited European Union policy, which deems all Israeli settlements in the West Bank, eastern Jerusalem and Golan, illegal.The statement said these settlements “constitute an obstacle to peace” and hinder trying to achieve a two-state solution to end the Israeli Palestinian conflict.

“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. In case of litigation, it could be very difficult for member states to guarantee the protection of their interests,” the Spanish statement said.

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