5-17-2014 Israel restricts Palestinian banking, electricity Times of Israel

http://www.timesofisrael.com/israel-restricts-palestinian-banking-electricity/

 

Power to run at half-strength for an hour each day as part of response to Fatah-Hamas reconciliation.   

In addition, Israel is withholding $116 million of Palestinian tax revenue…

 

The reduction in electricity will take effect on West Bank Palestinians daily between 1 p.m. and 1:30, and 7 p.m. and 7:30. The Israel Electric Company pointed to a $154 million debt owed by the Palestinian Jerusalem District Electric Company as the reason for the measure.

With the restriction on shekel transfers, Palestinian banks now will be unable to exchange shekels for foreign currency, a right established in a 1994 Israeli-Palestinian economic agreement. 

Posted by Judith Ferster, AIME member

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