Ireland Withdraws Millions From Israeli Firms

The Irish government has taken out millions of euros from several Israeli firms.

About 3 million euros have been pulled from the Irish Strategic Investment Fund (ISIF) global equities portfolio by the Irish National Treasury Management Agency (NTMA), according to a statement made by Yedioth Ahronot on Friday. 

The move to divest includes shareholdings worth a total of 2.95 million euros in 6 entities: Bank Hapoalim BM, Bank Leumi-le Israel BM, Israel Discount Bank, Mizrahi Tefahot Bank Ltd, First International Bank, and Rami Levi Chain Stores.

Irish Finance Minister Michael McGrath described the measure as the "right decision."

"ISIF believed that the risk profile of these investments no longer fits within its investment parameters and that the commercial objectives of these investments may be accomplished through other investments. "

The decision will be implemented as soon as possible in the coming weeks," he added. 

Irish Labour Party leader Ivana Bacik commended the decision. 

"The unrelenting brutality and misery faced by the people of Gaza necessitates an immediate international response. 

It is encouraging to see the NTMA take measures to divest from investments in firms operating in the occupied territories, but this is only the starting," she noted."The magnitude of damage experienced by the Gazans is nothing short of horrific. The case for a quick ceasefire in Gaza becomes stronger by the day, as the death toll climbs. 

We are witnessing catastrophic destruction caused by the Israeli government on a civilian population imprisoned in a small, struggling region.

" The decision to pull out about 3 million euros from its global stocks investment in the Ireland Strategic Investment Fund (ISIF) was confirmed by the Irish National Treasury Management Agency (NTMA).