Former Israeli Diplomat Downplays Economic Impact of UK Settlement Sanctions Amid Retaliation

'Not as bad as it sounds': Former attaché downplays UK-led settlement boycott impact
A former Israeli economic attaché to the United Kingdom has minimized the anticipated economic effects of recent UK-led sanctions targeting West Bank settlements, asserting that Israel possesses economic leverage against Britain. His statements follow Israel's implementation of retaliatory diplomatic actions in response to the sanctions announcement. Shmuel Ben-Tovim, who previously served as economic attaché to the UK, stated in a Wednesday interview with 103FM that "From an economic standpoint, it's not as bad as it sounds," referring to sanctions announced by 12 European countries against the West Bank. He highlighted that "Trade between Israel and the UK is roughly balanced," providing Israel with economic leverage. Ben-Tovim also estimated that goods originating directly from settlements account for "maybe tens of millions of dollars" and noted that the announced ban would require legislation, a process he believes "could take several months." British Foreign Secretary Ed Miliband announced the sanctions, which include an import ban on goods from "illegal" settlements in the West Bank. The measures also target specific individuals and businesses involved in providing services such as construction, instruction, financing, or real estate for settlement expansion. In response, Israel has closed the British Consulate in Jerusalem and expelled officials from its Kiryat Gat headquarters. Ben-Tovim endorsed Israel's retaliatory measures, describing the closure of the Jerusalem consulate as "a very serious step." He added that "Britain relies on us for a wide range of goods, including in the defense sector." Ben-Tovim suggested that the political impact on the UK was immediate, while any economic effect on Israel would take longer to materialize. He cited previous diplomatic challenges, such as the 2010 Mavi Marmara crisis, as examples where relations soured but eventually normalized. *Source: Originally reported by yahoo.com.*

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