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Saturday, 24th October 2026
Netanyahu Warns Israel to Prepare for Possible Sanctions, Considers Cryptocurrency and Blockchain
24 October 2026 23:10 PM
NEWS DESK
Israeli Prime Minister Benjamin Netanyahu has warned that Israel must prepare for the possibility of expanded international sanctions, including restrictions on its banking sector, and explore alternative financial systems such as cryptocurrency and blockchain technology to maintain economic transactions.
Netanyahu made the remarks on Friday in an interview with an Israeli financial news outlet, just four days before the country’s Knesset elections, according to The Times of Israel.
“ You have to understand that there may be sanctions on the banking system,” Netanyahu said, adding that Israel must prepare to build an economy capable of operating despite such restrictions. He said he was already working on the issue.
When the interviewer suggested cryptocurrency as a possible solution, Netanyahu agreed. Asked about blockchain technology and decentralised digital systems that do not depend entirely on central authorities, he said those could also be options. He reportedly instructed his advisers to develop plans for using the technology.
Cryptocurrencies can provide alternative channels for financial transactions and potentially reduce the effectiveness of some sanctions. However, they are not entirely immune to restrictions or monitoring, as transactions on many blockchain networks can be traced.
A senior Israeli economic official, quoted by Channel 12, criticised Netanyahu’s proposal, arguing that the approach would not achieve its intended objective and that even discussing it could harm the economy.
Netanyahu’s comments come amid growing international pressure over Israel’s policies in the occupied West Bank.
Britain and 11 other Western countries have announced sanctions targeting products from Israeli settlements in the territory, in response to continued settler violence against Palestinians and extensive settlement expansion approved by Netanyahu’s right-wing government.
Economists and industry representatives interviewed by The Times of Israel last month warned that the economic consequences of such measures could extend beyond the settlements and affect Israel’s broader economy.
Netanyahu presented the prospect of economic restrictions as a challenge for which Israel must prepare. His political opponents, however, argue that the government’s policies have contributed to the country’s growing international isolation.
Netanyahu Questions Future of US Military Assistance
The Israeli prime minister also reiterated his call for greater military self-reliance, warning that US military assistance worth tens of billions of dollars cannot be expected to continue indefinitely.
Netanyahu said Israel should prepare for a future in which it receives less American defence funding. Referring to the multibillion-dollar military assistance packages he had secured from Washington, he argued that the United States was changing and that Israel should adjust its expectations.
He has repeatedly attributed declining American public support for Israel to domestic political and social changes in the United States rather than to Israeli government policies.
His critics, however, contend that his administration’s actions, particularly its policies toward the Palestinians, have contributed to the decline in support.
Opposition leader Yair Lapid, a senior figure in the Yesh Atid party, used Netanyahu’s remarks to criticise the government’s direction.
In a post on X, Lapid argued that Netanyahu was effectively acknowledging the risks of renewed international isolation, potential restrictions on US security assistance and economic sanctions that could damage Israel’s economy, raise consumer prices and cause lasting harm.
Yair Golan, leader of the Democrats party, also criticised the prime minister. In a post on X, Golan accused Netanyahu of being disconnected from reality and questioned his handling of the country’s growing economic and diplomatic challenges.
Netanyahu’s remarks highlight the economic and strategic pressures facing Israel as it confronts concerns over international relations, financial restrictions and the future of its longstanding military partnership with the United States.
While cryptocurrency and blockchain technology could offer additional payment mechanisms, their ability to shield an economy from comprehensive international sanctions remains uncertain. Israel’s longer-term response will likely depend on its diplomatic relationships, access to global financial markets and decisions on security and regional policy.
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