Amnesty Urges EU to Halt Sales of Israel Bonds
LONDON:Amnesty International has called on European Union member states to stop allowing the sale of Israel Bonds within the bloc, arguing that governments risk breaching their obligations under international law by facilitating investments that contribute to Israel’s state budget.
In a statement issued on Wednesday, the human rights organization said EU countries should refuse to host the financial instrument when current arrangements expire, warning that continued authorization could expose member states to allegations of complicity in international crimes against Palestinians.
Amnesty said figures published by the Israeli government showed a sharp increase in the issuance of Israel Bonds since October 2023. According to the organization, the bonds are primarily marketed to retail investors, particularly in the United States, and are used to raise funds for the Israeli government.
Steve Cockburn, Amnesty International’s Regional Director for Europe, said Israel had become increasingly dependent on foreign investment to finance what the organization describes as genocide, apartheid and the unlawful occupation of Palestinian territories.
Cockburn said proceeds from the bonds increase funds available to the Israeli government, including military expenditure, and argued that allowing the securities to be sold in European markets carries significant ethical and legal consequences.
He said international law requires states not to aid or assist genocide and imposes an obligation to prevent it.
According to Amnesty, approval by an EU member state to market Israel Bonds represents a form of financial facilitation that could amount to a failure to prevent genocide under international law and could also create the risk of aiding or assisting such crimes.
Under European regulations, an EU member state must act as a financial host before Israel Bonds can be marketed throughout the bloc.
Amnesty noted that the Central Bank of Ireland had served as the host member state since 2021. Following public protests and political pressure, Luxembourg assumed that role after approving the bond prospectus, enabling investors in countries including Austria, France, Germany and the Netherlands to purchase the securities.
The current arrangement with Luxembourg is due to expire on Aug. 31. Amnesty urged Luxembourg not to renew the authorization and called on any other EU member state to refrain from assuming the role.
Cockburn said permitting the bonds to be sold in Europe is a political decision and argued that ending financial support would be one of the most effective ways to halt what Amnesty alleges are crimes against Palestinians in the Gaza Strip.
The organization also cited Israeli government figures showing that military spending increased from 4.2% of gross domestic product in 2022 to 8.3% in 2024.
According to the report, Israel Bonds raised an average of $2.4 billion annually between 2023 and 2025. The bonds have been promoted as a means of supporting Israel during wartime by allowing investors, particularly within the Jewish community in the United States, to lend directly to the Israeli government.
The report reflects Amnesty International’s position and calls for policy changes by EU governments. No response from Israeli authorities or European Union institutions was included in the source material.
