Netanyahu’s sanctions comments: Israel central bank issues rare rebuke

Business Recorder reported that the Bank of Israel publicly challenged Prime Minister Benjamin Netanyahu’s proposal to use cryptocurrency and blockchain systems to build an economy less vulnerable to sanctions. In a statement issued on Saturday night, the central bank argued that digital currencies cannot serve as a means of evading sanctions and urged Israel to protect economic ties with key trading partners while working to avert restrictions.

Netanyahu had spoken in a recent interview about possible pressure from the United States, including measures affecting banks, and said he had instructed officials to prepare an alternative economic framework. His comments also became an issue in the national election campaign, with opponents arguing they reflected damaging effects of his leadership. The central bank said decisions on this subject belong to Israel’s political leadership.