OREANDA-NEWS  Representatives of the European Commission (EC) have proposed to the authorities of the European Union (EU) to consider the need to launch a trade strike against Israel amid the crisis in the Gaza Strip. This was stated by the head of European diplomacy, Kaya Kallas, quoted by TASS.

The abolition of preferential treatment for 37 percent of exports to the EU from the Middle Eastern country is considered as one of the measures of economic impact on Israel. This mechanism was in effect last year, Kallas recalled. "The abolition of such a regime will cost Israel dearly," she concluded.

By the end of 2024, the EU's trade turnover with Israel amounted to 42.6 billion euros. Thus, EU import duties may affect the products of the Middle Eastern country totaling approximately 15 billion. The suspension of the trade part of the Association Agreement with the EU may cause significant damage to Israel's economic potential, Kallas stated.

Earlier, EC President Ursula von der Leyen announced her intention to stop financial support for Israel. The EU authorities, she explained, want to suspend all payments to the Middle Eastern country until the crisis in the Gaza Strip ends. Israeli Defense Minister Israel Katz, in turn, threatened to completely destroy Gaza and all representatives of the radical Islamic movement Hamas if the latter refused to release the remaining hostages. Turkish President Recep Tayyip Erdogan has warned the Israeli authorities against continuing the operation in Gaza, calling what is happening in the region the most brutal genocide of the century.