The European Union has announced a freeze on financial aid to Palestine due to the aggression of Hamas militants against Israel.
This was announced by Oliver Varhelyi, EU Commissioner for Neighborhood and Enlargement.
“The scale of terror and brutality against Israel and its people was a watershed moment. The European Commission, as the largest donor to the Palestinians, is starting a review of the entire development aid package worth 691 million euros. All payments will be suspended immediately. All projects will be assessed. All new budget proposals, including those for 2023, are postponed until further notice,” Varhelyi wrote on X (formerly Twitter) on Monday.
Palestine loses financial support from the EU
Previously, Austria and Germany announced a review of financial aid to Palestine. The Austrian government will suspend the transfer of 19 million euros intended for the development of the Palestinian territories. Austrian Foreign Minister Alexander Schellenberg said the country would review all projects related to the Palestinian territories after consultations with the European Union and international partners.
German Minister for Economic Cooperation and Development Svenja Schulze said the German government was closely monitoring the use of funds for peace purposes, but the recent attacks on Israel marked a turning point. – We have tried to ensure that our support for the people of the Palestinian territories serves peace, and not terrorists, she stressed.
Germany is one of the largest donors financing projects related to seawater desalination, food security and job creation. In the period 2023-2024, Berlin was prepared to transfer 125 million euros to Palestine.
Hamas attack on Israel
On Saturday morning, Hamas launched a military operation against Israel with rocket attacks and militias attacking civilians in border areas. Palestinian armed groups have invaded more than two dozen cities, killing hundreds of Israeli civilians and officials, injuring thousands and taking an unknown number as hostages to the Gaza Strip.
In response to the attack, Israel launched a campaign of airstrikes on Hamas-related targets and announced the partial mobilization of reservists. Israeli Prime Minister Benjamin Netanyahu announced that the country was in a state of war.
Source: Do Rzeczy

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.