NextFin news, On Monday, September 15, 2025, a coalition of more than 80 NGOs launched a campaign in Europe urging European Union member states and the United Kingdom to ban all trade and investment activities related to Israeli settlements in the occupied Palestinian territories, including the West Bank and East Jerusalem.
The NGOs, including Oxfam, Amnesty International, and the Human Rights League, accused certain European companies and financial institutions of supporting Israel's illegal settlement policy by continuing business operations in these settlements. They highlighted that the European Union is Israel's largest trading partner, accounting for about 32% of Israel's total merchandise trade, valued at approximately 42 billion euros annually.
The campaign demands a comprehensive prohibition on commercial exchanges and investments with the settlements, as well as a ban on financial institutions providing loans to companies involved in settlement projects. The NGOs argue that current EU regulations requiring labeling of products originating from settlements are insufficient and call for stricter legislation to prevent economic support for the settlements.
Specific companies named in the NGOs' report include the French retail giant Carrefour, accused of enabling the sale of its products in settlements through franchise agreements; British construction equipment manufacturer JCB, whose machinery is reportedly used to demolish Palestinian homes and build settlements; German industrial group Siemens, which allegedly provides transportation infrastructure serving the settlements; and British bank Barclays, accused of financing commercial activities in the settlements.
Carrefour has denied the allegations, stating that its franchise agreement excludes stores located in the occupied territories. However, Oxfam and other NGOs maintain their claims.
The NGOs cited a landmark advisory opinion issued by the European Court of Justice in July 2024, which obliges EU member states to refrain from economic or trade dealings with Israel concerning the occupied Palestinian territories and to prevent trade or investment relations that assist in maintaining the illegal situation created by Israel.
The campaign follows a report submitted in July 2025 by the UN Special Rapporteur on the human rights situation in the occupied Palestinian territories, which highlighted the expansion of settlements funded by banks and insurance companies and normalized by tourism platforms and large retail chains.
Israeli Prime Minister Benjamin Netanyahu recently reaffirmed plans to expand settlements in the West Bank, stating there would be "no Palestinian state," intensifying international concerns over the ongoing occupation and settlement activities.
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