Minister of Finance Bezalel Smotrich (Yonatan Sindel/Flash90)
This is the latest in a series of liens that freeze designated PA funds, preventing them from being used to finance terrorism.
By Vered Weiss, World Israel News
Israeli Finance Minister Bezalel Smotrich signed an additional lien of 320 million shekels in Palestinian Authority (PA) funds on Monday.
This was the latest in a series of liens that freeze designated PA funds to prevent them from being used to finance terrorism. The money will be used instead to compensate victims of terror.
Smotrich stated, “There is no more just and righteous action than stopping the Palestinian Authority from financing terrorism and redirecting its funds to support the families of terror victims. This is a crucial step in our national fight against terrorism and the Palestinian Authority that fosters it.”
He continued, “This action aligns with the Gaza payroll deductions, the halt on payments to terrorists, and numerous other measures I’ve implemented as part of the unwavering policy I’ve consistently followed since taking office. We are cutting off the sources of funding for terrorism and preventing the Palestinian Authority from using its funds to fuel incitement and violence. I will continue to take decisive action to ensure the security of Israel’s citizens.”
Last month, Israel recovered funds to cover a decade-old $1.1 billion Palestinian Authority electricity debt by redirecting money from the Norwegian Fund, where PA funds have been deposited since the beginning of the war.
The Finance Ministry issued an order to the Norwegian Fund, which had been receiving 275 million shekels monthly, deducted from PA funds.
The money from the Norwegian Fund will be used to settle outstanding debts the PA has owed to Israel for over 10 years. Half of the funds will go to companies that provided fuel to the PA; the other half will be directed to Israel’s electric company.
Last spring, after Norway announced its recognition of a Palestinian state, Smotrich halted payments to the Norwegian Fund and redirected the funds to a new account.
Instead of transferring money to the Palestinian Authority after the war, Israel will now use the funds to pay off the PA’s debts to Israel.
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