EU Leaders Warn Financial Institutions Against Funding Settlement Construction

The European Council warned financial institutions on Friday evening against financing Israeli settlement construction. The statement also cautioned contractors against bidding to build in the E1 area, citing legal, financial and reputational risks associated with taking part in the project. It was issued days before the deadline for the E1 construction tender, addressing the financing of settlement building as well as contractors considering bids. The warning required the approval of all EU leaders before it could be issued.